During the PICUP Fintech Conference & Awards 2026 in New Delhi, M. Nagaraju (secretary of the Department of Financial Services) addressed the implications of emerging AI systems like Claude Mythos, describing them as both threats and opportunities for the fintech ecosystem. He stressed the importance of responsible technology adoption, alongside enhanced cybersecurity and data privacy measures. Nagaraju noted that India’s financial sector is experiencing a profound transformation, with a structural shift in service delivery and access. Despite global challenges, he highlighted India's potential to become a $5 trillion economy, projecting a 7.6% GDP growth for 2025-26. He also pointed out significant achievements in financial inclusion, with nearly 580 million accounts opened under the Pradhan Mantri Jan Dhan Yojana, and emphasized the role of India's Digital Public Infrastructure in driving growth. However, he cautioned that emerging technologies must be integrated responsibly to manage cybersecurity threats and maintain stability.