RBI To Promote Innovation In Fintech Sector, Says Shaktikanta Das RBI governor emphasized that fintech initiatives and startups are the important segments of aspirational India
By Teena Jose
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Reserve Bank of India (RBI) governor Shaktikanta Das, on Wednesday, guaranteed financial technology companies that the central bank will continue to adopt a participative and consultative approach to facilitate innovation in the financial sector, according to a PTI report.
According to an RBI statement, as per the report, the governor held a meeting with selected fintech entities including agritechs and some of their associations.
Das also urged the fintechs to pay close attention to governance, business conduct, data protection, customer centricity, regulatory compliance and risk mitigation frameworks.
"The governor reiterated that the RBI will continue to adopt a participative and consultative approach for facilitating innovations in the financial sector," added the statement.
Das emphasized that fintech initiatives and startups are the important segments of aspirational India. According to him, they are playing a transformative role in the financial system through digital innovations and innovative means of delivery of financial services.
Governor also accentuated the proactive and supportive role of the RBI in providing a conducive policy environment for responsible innovation, as per the report.
