Maharashtra is making significant progress towards becoming the country’s first “tokenised state”, Chief Minister Devendra Fadnavis said on Wednesday, an initiative aimed at enabling easier access to and review of land records.
The Maharashtra Digitisation and Exchange of Land Token Asset Act, or the DELTA Act, is a proposed law that seeks to create India’s first legal framework for blockchain-based tokenisation of land and immovable property.
Speaking to reporters at the Global Fintech Fest in Mumbai, Fadnavis said the state had made considerable progress towards its goal of becoming the first “tokenised state” since he announced the initiative at the previous JFF (Jio Finance Forum).
“We have prepared the DELTA Act. A committee has now been formed to undertake a complete review of the Act,” he said.
Once the law is enacted, even ordinary citizens would be able to realise the value of their land and other assets and create liquidity from them, Fadnavis said.
“Mumbai is the country’s financial as well as fintech capital, while India has emerged as the world’s largest digital transaction market,” he said.
Fadnavis said financial and lending institutions had become accessible to the common man, with people now having access to all kinds of financial services.
He added that new technologies and different modes of virtual payments, including ATMs, debit cards and credit cards, were increasingly driving the shift towards digital payments.
“We are trying to take Maharashtra to the next level through this initiative,” the chief minister said.
His comments came a day after Prime Minister Narendra Modi said the challenge for India’s fintech industry is to turn the possibilities opened up by agentic AI, tokenisation and quantum technologies into real-world impact.
As he inaugurated the Global Fintech Fest 2026 in Mumbai, he said, "Agentic AI, tokenisation, quantum — such technologies are opening new doors of possibility in the financial sector. The challenge before us now is how to convert these possibilities into real impact."
He highlighted that tokenisation converts assets into programmable digital units. It could enable fractional ownership, faster settlement and greater liquidity across capital markets and payments.
(With inputs from PTI)
