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Maharashtra IT Minister Ashish Shelar Emphasises Responsible AI at Montran India Summit 2026

At the 2026 edition of the Montran India Summit held in Mumbai, Maharashtra Minister for Information Technology, Electronics, Artificial Intelligence, and Cultural Affairs, Adv. Ashish Shelar, called for responsible artificial intelligence to steer the country’s next phase of digital expansion. The event convened financial regulators, banking leaders, and market infrastructure entities to evaluate the transition toward faster securities settlements and resilient payment architectures.

What Happened

Financial infrastructure technology firm Montran India organised the Montran India Summit under the theme “India – Watched by the World. Building What’s Next.” The gathering brought together key stakeholders from institutions including NSDL, NSE Clearing Limited, IFSCA, Bank of India, Axis Bank, and Montran.

Delivering the keynote address, Minister Ashish Shelar underscored that while the preceding decade succeeded in widening access to digital financial services, the coming era must focus on democratising intelligence through responsible AI. He noted that Mumbai is strategically positioned as a hub for fintech innovation, operating under an ethos to design in Maharashtra, build for India, and scale globally. Shelar also asserted that principles of security, accountability, and inclusion by design must be treated as mandatory foundations in system development.

Julie Esca, Chief Executive Officer of Montran India, addressed participants on the evolution of Indian financial technology. She observed that having established massive scale and speed during its initial phase, the sector’s next chapter will rely heavily on trust, resilient infrastructure, reliable transaction execution, and modernised fraud detection mechanisms.

Key Highlights

  • Focus on Responsible AI: Maharashtra IT Minister Ashish Shelar stated that democratising intelligence through responsible AI must define India’s digital growth, supported by non-negotiable security, accountability, and inclusion by design.
  • Settlement Roadmaps: Panel discussions covered the capital markets’ shift to T+1 settlement and preparations for an eventual transition toward T+0 settlement, building on the groundwork laid by instant payment networks.
  • Emerging Market Architecture: Securities market infrastructure representatives discussed technological approaches involving tokenisation and internationalisation aimed at supporting India’s expanding investor base.
  • AI-Led Payment Intelligence: Montran demonstrated solutions combining artificial intelligence and automation to manage risk and fraud across complex digital transaction networks.
  • Cross-Industry Participation: Discussions featured senior representatives from NSDL, NSE Clearing Limited, IFSCA, Bank of India, and Axis Bank.

Why This Matters

India’s financial landscape has experienced rapid adoption of digital payments. According to summit participants, sustaining this momentum requires upgrading core systems to handle always-on, real-time demand while defending against emerging vulnerabilities. The discussions highlighted that progress achieved in retail instant payments is now facilitating structural advancements in capital markets, such as shorter settlement cycles like T+1 and future T+0 settlement. Furthermore, integrating AI into fraud mitigation and risk assessment is becoming a focal point as transaction scale and regulatory standards advance.

What to Watch Next

Montran confirmed that the India Summit will remain an annual forum to track progress across the country’s digital financial infrastructure. In capital markets, institutions are continuing work around tokenisation, internationalisation, and the gradual infrastructure readiness required for T+0 settlement cycles. In payments, banks and technology partners are slated to expand automated, AI-driven payment intelligence tools to reinforce fraud prevention frameworks.

Frequently Asked Questions

What was the core theme of the Montran India Summit 2026?

The summit was held under the theme “India – Watched by the World. Building What’s Next,” concentrating on payments, capital markets, and emerging technology infrastructure.

What did Minister Ashish Shelar highlight regarding artificial intelligence?

Minister Shelar stated that following a decade of expanding financial access, the next priority must be democratising intelligence through responsible AI, anchored by security, accountability, and inclusion by design.

What capital market developments were examined during the summit?

Panellists reviewed the capital markets’ successful shift to T+1 settlement, technological groundwork for a future move to T+0, and initiatives related to tokenisation and internationalisation.

Source: NewsVoir via The Tribune