RBI proposes self-regulation for fintechs

Reserve Bank of India HQ, Mumbai
Reserve Bank of India HQ, Mumbai

On January 15, the Reserve Bank of India published proposals that would allow the country’s vast fintech sector to regulate itself. 

India is home to thousands of fintechs. However, the RBI said most were not directly regulated, despite playing a “pivotal” role in redefining financial services. 

The central bank said an effective regulatory approach should balance maximising fintechs’ innovation potential with minimising risks to the financial system. “Self-regulation within the fintech sector

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