K V Kamath, Non-Executive Chairman of Jio Financial Services: Regulators have a very interesting job because they need to balance driving innovation, protecting customers and the financial stability of the country.
FinTech BizNews Service
Mumbai, October 9, 2025: Comparing the regulatory framework in India with global regulators, Mr. K V Kamath, Independent Director and Non-Executive Chairman, Jio Financial Services, said, “We are ahead of the curve in comparison to most regulators and instrumental in building the country’s digital and financial momentum. He was speaking today at a fireside chat titled ‘Reimagining Finance in the Age of Scale, Speed, and Intelligence,’ at the Global Fintech Fest (GFF) 2025, held at the Jio World Centre, Mumbai.
The session was moderated by Mr. Balasubramanian K, Banking Head, Citi.
“Regulators have a very interesting job because they need to balance driving innovation, protecting
customers and the financial stability of the country. The Reserve Bank of India (RBI) has been a very
proactive regulator. They have developed a free AI which is basically a framework for responsible
and ethical enablement of AI as a foundation for AI adoption,” he added.
Talking about the role of foreign capital, Mr. Kamath said, “India was never great at attracting
foreign capital but still witnessed growth, even during tough times. Foreign capital will play a role,
but it will be a supporting pillar, not the foundation. It will come in through three ways. First,
through the capital markets as investment; the second is through FDI and finally through long-term
funding in foreign currencies..”
On technology and artificial intelligence (AI) adoption, Mr. Kamath said India’s timing gives it a
unique advantage. “Sometimes being late to the party is good because you are able to build things at
a fraction of the cost as compared to being an early entrant. India has been a little late in the
journey, but the good thing is that we can learn from the experiences and pitfalls that other
countries have encountered as they navigated the AI journey.”
Speaking about India’s economic prospects, Mr Kamath said, “The runway exists, the people exist,
the opportunities exist. India’s target of a USD 25 trillion GDP by 2047 is easily achievable. We have a
clear 25-year runway ahead of us, and technology will be the great enabler of this journey.”
GFF 2025 is organised by the Payments Council of India (PCI), the National Payments Corporation of India (NPCI) and the Fintech Convergence Council (FCC).
