India’s fintech ecosystem saw significant activity in September, highlighted by the Securities and Exchange Board of India (SEBI) issuing final observations on Social Worth Technologies’ proposed IPO, the parent company of lending startup Fibe. Digital lending unicorn Moneyview debuted on the stock market, while Zerodha received regulatory approval to operate as a merchant banker. Upstox also launched US stock investing on its platform, marking a busy month for fintech developments, according to inc42.com.
The Global Fintech Fest 2026 (GFF) in Mumbai showcased a surge in AI adoption within fintech. BharatPe introduced an agentic AI platform for merchants, and Pine Labs launched an agent-led commerce feature on L&T Finance’s PLANET app. Banks and non-banking financial companies (NBFCs) partnered with startups to integrate AI capabilities, while the National Payments Corporation of India (NPCI) rolled out enterprise-focused AI tools. However, NPCI’s anticipated framework for agentic payments on UPI did not launch as expected, inc42.com reported.
The growing use of AI in payments is reshaping fintech business economics and raising concerns about financial system security. At GFF, Prime Minister Narendra Modi and Reserve Bank of India Governor Sanjay Malhotra emphasized the importance of strengthening consumer trust in fintech services. NPCI’s Managing Director and CEO Dilip Asbe highlighted the need for banks and payment companies to enhance security amid rapid AI advancements, according to inc42.com.
The fintech sector’s momentum is underscored by these regulatory and technological developments, with the NPCI continuing to play a central role. The next major event for the industry will be closely watched as companies and regulators navigate the evolving AI landscape in financial services, inc42.com noted.