India's finance minister has urged banks to use Web3 technology to detect fraud and generate warning signs

Banks use technologies such as Web3 and AI to detect fraud and generate warning signs, Finance Minister Nirmala Sitharaman told the 75th annual General meeting of the Association of Indian Banks in Mumbai on September 18. She also asked banks to enhance customer service. Nirmala Sitharaman also asked the banks to make plans for the next 25 years and adopt digital and modern technologies to make India a developed nation by 2047. "You need to have a strategy to meet the aspirations of Indian youth over the next 25 years, and banks have innovative portfolios so that they are attractive and accessible to young people," she said.