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Below the Quote on Pre Budget by Seema Prem, co-founder & CEO, FIA Global

Public spending could complement private AI investment to increase rural banking productivity
Budgetary support through grants, co-investment funds, or guarantees can accelerate adoption of AI for vernacular interfaces, fraud detection, and alternative credit models for financial services’ delivery in rural areas.
 
To accelerate AI’s reach in Bharat, the Budget could provide for funding shared intelligence, not isolated pilots—AI that makes the Bank Mitra channel cheaper to run, safer to trust, and easier for customers to use. This requires targeted public investment in common AI rails such as vernacular voice interfaces, real-time fraud and grievance intelligence, and alternative credit and cash-flow models tailored for rural livelihoods.
 
The Budget could empower NABARD to support the Bank Mitra ecosystem with AI adoption, shared data platforms, and partnerships with cooperative banks, Regional Rural Banks, and State Rural Livelihood Missions.

From Seema Prem, co-founder & CEO, FIA Global. FIA is a ‘corporate Business Correspondent’ offering financial services in rural & semi-urban areas through its digital platforms and 65,000 on-ground banking agents. FIA is an intermediary of over 25 banks (public sector/regional rural), serves over 12 crore people across 9,000 postal codes and handles over Rs 210 crore in transactions daily.

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