M Nagaraju, Secretary, Department of Financial Services, Ministry of Finance, Govt of India has said that the India continues to stand out as the bright spot in the world economy despite global headwinds, geo-political conflicts, supply chain realignments along with elevated interest rates. India's banking and financial system has already demonstrated its ability to transform at scale. The next phase will test our ability to integrate advanced technologies responsibly, secure systems against threats, protect citizen data and expand access while maintaining stability. Addressing the 'PICUP Fintech Conference & Awards', organized by FICCI, jointly with IBA, Nagaraju stated that the gross NPAs of public sector banks are at record low level in India at 2.2 per cent and net NPA around 0.5 per cent. Highlighting the important achievement for the government, he added that financial inclusion is central to building a resilient and equitable financial eco-system. Over the past decade, India has emerged as the global benchmark in financial inclusion.