Maharashtra is advancing rapidly toward becoming the country’s first “tokenised state,” Chief Minister Devendra Fadnavis said on Wednesday, describing the initiative as a step towards simplifying access to and verification of land records.
The Maharashtra Digitisation and Exchange of Land Token Asset (DELTA) Act is a proposed legislation aimed at establishing India’s first legal framework for using blockchain technology to tokenise land and other immovable assets.
Addressing reporters at the Global Fintech Fest in Mumbai, Fadnavis stated that the state has made significant headway toward its objective of becoming the first 'tokenised state' since he unveiled the initiative at the previous JFF (Jio Finance Forum).
We have drafted the DELTA Act, and a committee has now been established to conduct a comprehensive review of it, he said.
Fadnavis stated that once the law comes into effect, even ordinary citizens will be able to recognise the value of their land and other assets and convert them into liquid funds.
“Mumbai serves as the nation’s financial and fintech hub, while India has become the world’s largest market for digital transactions,” he said. Fadnavis noted that financial and lending institutions are now within reach of ordinary citizens, giving people access to a full range of financial services.
He further stated that emerging technologies and various forms of virtual payments, such as ATMs, debit cards, and credit cards, are increasingly propelling the move toward digital payments.
His remarks were made a day after Prime Minister Narendra Modi stated that the key challenge for India’s fintech sector is to translate the opportunities created by agentic AI, tokenisation, and quantum technologies into tangible real-world outcomes.
While inaugurating the Global Fintech Fest 2026 in Mumbai, he said, "Agentic AI, tokenisation, quantum — these technologies are unlocking new avenues of possibility."
He explained that tokenisation transforms assets into programmable digital units, which can facilitate fractional ownership, quicker settlements, and enhanced liquidity across capital markets and payment systems.