wordpress blog stats
Connect with us

Hi, what are you looking for?

Lending fintechs warrant novel regulation methods to address risks, says RBI governor Shaktikanta Das

Credit: PTI

The growth of digital lending fintechs, who act as service providers for customers or banks, will increasingly emerge as critical pieces in the financial sector, said Shaktikanta Das, the Governor of the Reserve Bank of India (RBI). Speaking at the Times Network India Economic Conclave 2021 on Thursday, Das said these platforms need to be mindful about financial sector stability implications, cyber-security risks, customer protection and data protection aspects of their business. Das said that the massive growth in both digital payments and digital lending platforms requires the financial sector to upgrade their IT systems to handle the "exponential surge" in transactions. The fintech market in India is expected to reach Rs 6 lakh crore by 2025 from Rs 1.9 lakh crore in 2019, the Governor said. "In a world where the FinTech companies are leading in terms of the…

Please subscribe/login to read the full story.
Written By

Reports on banking, payments, fintech and crypto-curencies. Additional reporting on media regulations, data protection and other areas.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

Studying the 'community' supporting the late Sushant Singh Rajput (SSR) shows how Twitter was gamed through organized engagement

News

Do we have an enabling system for the National Data Governance Framework Policy (NDGFP) aiming to create a repository of non-personal data?

News

A viewpoint on why the regulation of cryptocurrencies and crypto exchnages under 2019's E-Commerce Rules puts it in a 'grey area'

News

India's IT Rules mandate a GAC to address user 'grievances' , but is re-instatement of content removed by a platform a power it should...

News

There is a need for reconceptualizing personal, non-personal data and the concept of privacy itself for regulators to effectively protect data

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ