Financial inclusion in the last decade was about access. In the next decade it must be about trust and security. Examine this statement.

Inaugurating RBI's Data Centre and Cybersecurity Training Institute in Bhubaneswar (Oct 2026), the Prime Minister said the last decade was about "banking the unbanked" and the next must make banking "more efficient and reliable" [1]. Access has been largely achieved. Keeping the newly included users safe is now the harder task.

Last decade: access achieved

• Jan Dhan: about 60 crore accounts. Before 2014, more than half the population was outside the banking system [1].
• Credit without collateral: Mudra reached 13 crore first-time entrepreneurs, and 10 crore SHG women received bank credit [1].
• Cheap insurance: PMSBY offers ₹2 lakh accident cover for a premium of ₹20 a year [1].

Why trust and security now matter

• Fraud is outpacing growth: reported digital payment frauds rose from 2.6 lakh (₹551 crore) in 2021 to 28 lakh (₹22,931 crore) in 2025 [2].
• The customer is the weak link: most frauds are Authorised Push Payment (APP) scams, where victims are tricked into approving a payment with their own PIN or OTP. Deepfakes and fake call centres drive these scams [2]. First-time users and senior citizens are the most exposed.
• Instant payments: UPI and IMPS settle almost at once, so stolen money quickly passes through mule accounts [2].
• Systemic risk: 93% of surveyed banks and NBFCs depend on outside vendors for cyber-security functions. A breach at one shared vendor could spread across many lenders [3].
• Gaps in coverage: RBI's 2016 Cyber Security Framework excluded Regional Rural Banks [4], which serve many rural first-time account holders.

Limits of the statement

• Access is still incomplete for credit depth and digital literacy, so the two goals must run together.
• Too much friction, such as payment delays, could push users back to cash.

Way forward

• Narrow friction: RBI proposes a one-hour delay on payments of ₹10,000 or more. These payments account for 98.5% of fraud value, so everyday payments would stay instant [2].
• Pre-transaction intelligence: the Digital Payment Intelligence Platform (DPIP) would score risk before a payment goes through, and Mulehunter.AI helps banks find mule accounts [2].
• Capacity building: the Bhubaneswar institute should train staff at RRBs and co-operative banks [1].

Access built the base of India's financial inclusion, and security will decide whether it lasts. A customer-centric, layered approach would turn inclusion into confidence, in line with SDG 8.10 (access to financial services) and the vision of Viksit Bharat.