Central Banking

RBI’s Padmanabhan on technology in the financial sector


The financial sector, and the banking industry in particular, was one of the first to make use of information technology, said G Padmanabhan, an executive director at the Reserve Bank of India, at a conference for chief technology officers on December 17.

Citing payment systems as an example, Padmanabhan said technology had led to a sea change. "Until the 1990s, one could make payments in this country through two predominant means – cash and cheque. Today, a tech-savvy customer is empowered to

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