Finance Minister Nirmala Sithaman on Tuesday expressed his concerns about the growing use of Deepfakes generated by artificial intelligence, which spreads online, blurring the boundary between truth and fiction and stated that this trend is “a reminder of the urgency with which we have to strengthen our defense”.
“I saw several Deepfake videos that I sent out online, manipulated the citizens’ mistake, and distorted the facts. It was a reminder of the urgency with which we have to strengthen our defense,” FM Sitharaman said.
“The new generation of fraud is no longer a violation of Firewall, it is a hacker confidence. The criminals use AI to imitate voices, cloning identity and creating life videos that can manipulate people,” FM said.
Minister of Finance spoke in the 6th edition of Global Fintech Fest 2025 in Mumbai when she made these comments.
The Minister of Finance then praised the joint initiative with the Indian Securities and Stock Exchange Council (Sebi) and the Indian company National Payments Corporation (NPCI), which launched a specialized UPI handle for investors registered with Sebi.
There are also categories such as .Brk for brokers and .mf for mutual funds, the Minister of Finance noted.
She also revealed that the main brokers who cover more than 90% of Indian investors have already made it possible.
Also read | How would the Self -valid UPI handles make digital payments safer for investors?
The “@ valid” marker sets a verified and secure payment channel on the securities market, while maintaining existing payment options, improving security and availability without disturbing the user’s preference, “FM revealed.
Technology must serve humanity: Sitharaman
“Although AI opens extraordinary possibilities, we need to face its darker side. The same tools that Power innovation can be armed for fraud and fraud,” Sitharaman said at the event.
“Undoubtedly, artificial intelligence transforms finances, transforms management and everyday life. But as we use its strength, we must remain aware that technology must always serve humanity,” The Times of India quoted.
What are the sebi-validated UPI handles?
According to SEBI, since October 1, a “structured and verified mechanism of the address of the united payment interface (UPI), which contains the exclusive” @valid “, for all investors’ intermediaries”.
The intermediary chooses a readable username for its UPI handles verified by self-verified, followed by a suffix, such as .Brk for brokers and .mf for mutual funds.
Investors will also see the thumbs up inside the green triangle icon in the payment of a registered intermediary, revealed the market regulator.
Investors were also asked to create a QR code using this “thumb-up” logo to increase investors’ trust.
Sebi check
Sebi introduced “Sebi Check”, which allows investors to verify UPI IDs and bank account data (account number + IFSC) registered intermediaries across UPI, NEFT, RTG and IMPS prior to payments via the web portal and Saarthi.
Also read | Sebi to intensify the fight against investment fraud with technology tools, new offices
The framework inserts responsible use of technology by verification of privacy, secure processing, audit trails and constant improvement informed by marked mismatch and user messages according to Sitharaman.
(Tagstotranslate) artificial intelligence
