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Pay Close Attention To Governance, Business Conduct, Das Tells FinTechs

UPI will be enhanced by single-block-and-multiple-debits functionality: DasRBI Governor Shaktikanta Das held a meeting with select FinTech entities (including AgriTechs) and their associations on Wednesday.

In his introductory remarks, Das stated that FinTech initiatives and startups are important segments of aspirational India. They are playing a transformative role in the financial system through digital innovations and innovative means of delivery of financial services. He highlighted the proactive and supportive role of the RBI in providing a conducive policy environment for responsible innovation. He advised 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 to facilitate innovations in the financial sector.

The participants shared their inputs and suggestions to enhance and deepen the role of FinTechs and the related ecosystem in the country.

MK Jain, Deputy Governor, RBI, and other senior officials were present at the meeting.

PR Newswire

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