PSU PRESS RELEASE
RBI panel to study Fintech digital banking
MUMBAI, The Reserve Bank of India has set up an inter-regulatory Working Group to study the entire gamut of regulatory issues relating to Financial Technology and Digital Banking in India.
The Working Group has been set up in view of the growing significance of Fintech innovations, and their interactions with the financial sector as well as financial sector entities. The Group will review and appropriately reorient the regulatory framework, and respond to the dynamics of the rapidly evolving Fintech scenario.
The Financial Stability and Development Council – Sub Committee (FSDC – SC), at its meeting held on April 26, had decided to set up such a Working Group to look into and report on the granular aspects of Fintech and its implications.
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