State Bank of India Chairman C. S. Setty Proposes National Financial Grid to Boost Credit Access and Combat Fraud

Overview

State Bank of India Chairman C. S. Setty has called for building shared digital infrastructure in India to tackle fraud, improve credit access, and meet the country's 2047 economic goals. He proposed a National Financial Grid integrating various financial data systems and an Indian Digital Payment Intelligence Corporation (IDPIC) for real-time fraud intelligence, likening the latter's ambition to UPI. Setty stressed that digital adoption requires investment in employee re-skilling to ensure effective use.