Rajan tells regulators: do not be afraid of innovation
Regulators should not ban innovation in order to be safer, outgoing RBI governor says
In a departing message to regulators, governor of the Reserve Bank of India (RBI), Raghuram Rajan asked regulators to not ban innovation just because it makes them feel safer.
Speaking in Mumbai on August 26, Rajan – who is due to leave the RBI on September 4 – said that although innovation can sometimes be seen in a "bleak light", it was important to recognise that it can also "slice and dice risks", so they are placed "on the right shoulders".
Regulators cannot "simply ban" all innovation just
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