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The latest step in a long list of technological advances has seen the Reserve Bank of India putting together an inter regulatory Working Group to tackle the regulatory issues relating to FinTech and digital banking in the country, according to a circular on the website of the RBI.
Mindful of its growing importance, the WG’s mandate is to scope the developments in the FinTech realm including innovations, entities, technology platforms involved and how markets are adopting new products. The move is designed to review and appropriately reorient the regulatory framework and respond to the dynamics of the rapidly evolving FinTech scenario.
Furthermore, ... (read more)