<h4>Introduction: Reinforcing Financial Infrastructure</h4><p>The <strong>Reserve Bank of India (RBI) Governor</strong> recently underscored the critical need to strengthen India's <strong>financial infrastructure</strong>.</p><p>This reinforcement is essential for sustained economic growth and integration into the global financial system.</p><h4>Key Focus Areas for Strengthening</h4><p>A primary focus area identified by the <strong>RBI Governor</strong> is the enhancement of <strong>cross-border payments</strong>.</p><p>The <strong>RBI</strong> is actively engaged in efforts to make India's indigenous payment systems, <strong>UPI (Unified Payments Interface)</strong> and <strong>RuPay</strong>, globally accessible and accepted.</p><div class='key-point-box'><p><strong>Globalization of UPI and RuPay:</strong> This initiative aims to expand India's digital payment footprint worldwide, facilitating easier and more efficient international transactions for citizens and businesses.</p></div><h4>Future Technologies and Innovation</h4><p>The <strong>RBI Governor</strong> also issued a caution regarding the adoption of <strong>Artificial Intelligence (AI)</strong> in the financial sector, stressing the need for careful and responsible integration.</p><p>Innovation remains paramount in reinforcing India's <strong>financial infrastructure</strong>, with particular emphasis on emerging technologies.</p><p>The potential of the <strong>Internet of Things (IoT)</strong> was specifically highlighted as a key area for future development and integration within the financial ecosystem.</p><div class='exam-tip-box'><p><strong>UPSC Relevance:</strong> This topic is crucial for <strong>GS Paper III (Economy)</strong>, particularly sections on financial markets, digital economy, and technology's role in development. Questions can relate to financial inclusion, payment systems, and regulatory challenges of new technologies.</p></div>