09 September,2026 05:16 PM IST | Mumbai | mid-day online correspondent
Maharashtra CM Devendra Fadnavis at Global Fintech Fest 2026 in Mumbai (Pic/Special arrangement)
Maharashtra is looking to harness emerging technologies such as Agentic AI, tokenisation and quantum technology to drive the next phase of transformation in the financial sector and strengthen financial inclusion, Chief Minister Devendra Fadnavis said at the Global Fintech Fest 2026 in Mumbai.
While addressing the event at the Jio Center in Bandra Kurla Complex (BKC), CM Fadnavis said, "Maharashtra was committed to ensuring that advances in digital finance benefit ordinary citizens, farmers, women entrepreneurs, startups and micro, small and medium enterprises (MSMEs)."
The Maharashtra CM also said that the convergence of Agentic AI and quantum technology could give a new direction to financial inclusion by making sophisticated financial services more accessible to people and businesses across Maharashtra.
Fadnavis also recalled that at last year's Global Fintech Fest, Maharashtra had expressed its ambition to become India's first "tokenised state".
He said the state government had since taken a significant step by beginning work on the framework for the proposed Maharashtra Digitization and Exchange of Land Token Asset Act (Delta Act).
According to the Chief Minister, the proposed legislation will establish a legal framework for blockchain-based tokenisation of land and real estate assets. Experts from the Securities and Exchange Board of India (SEBI), Bombay Stock Exchange (BSE), National Stock Exchange (NSE), industry, technology, law and academia are being involved in the process.
Fadnavis described tokenisation as a way of converting capital locked in real estate into productive economic opportunities. It could help increase transparency, create liquidity and enable otherwise idle assets to contribute to economic development, he said.
Highlighting India's success with the Unified Payments Interface (UPI), Fadnavis said the country had already demonstrated to the world how digital infrastructure could transform payments.
The next stage, he said, should focus on democratising access to credit, investments, ownership rights and financial information.
Advanced technology, according to the Chief Minister, could make high-quality financial services available to businesses and citizens irrespective of their location or size.
He said a farmer in Vidarbha, a business in Kolhapur or a woman entrepreneur in Pune should be able to access financial information and services comparable to those available to large financial institutions.
Fadnavis also mentioned that Agentic AI could significantly alter the way people interact with financial services. In the future, an entrepreneur's AI assistant could identify financial requirements and recommend appropriate financial products and options, he said. Farmers could also receive financial guidance in their mother tongue, potentially making sophisticated financial advice more accessible.
He also added, "Even though AI works for citizens, the final control should remain in the hands of citizens."
The Chief Minister also highlighted Maharashtra's combination of financial, technological and infrastructure capabilities.
The Maharashtra CM also described Mumbai as the country's largest financial ecosystem and said the city was rapidly emerging as a global fintech hub. Pune, he said, offers a strong base of technical and engineering talent, while Navi Mumbai is developing as an important centre for data, infrastructure and global connectivity.
Fadnavis called on the technology and financial sectors to view Maharashtra not merely as a market but as a "laboratory for innovation."
He invited companies and innovators to present solutions in areas including agriculture, MSMEs, urban development, healthcare, mobility, financial inclusion, fraud prevention and public finance management.
The state government, he said, would support the large-scale testing of promising technologies and solutions.
Fadnavis said India had created a new model of digital financial infrastructure under the leadership of Prime Minister Narendra Modi, and the next question was what the country's next financial revolution would look like.
During the Global Fintech Fest 2026, an agreement related to the expansion of facilities in Bandra Kurla Complex was handed over between the Mumbai Metropolitan Region Development Authority (MMRDA), SEBI, the National Stock Exchange and the Enforcement Directorate in the presence of Chief Minister Fadnavis.
The developments underscore Maharashtra's efforts to strengthen BKC's position as a key financial and institutional centre while building the infrastructure needed to support the state's broader fintech ambitions.
