RBI’s Fin-Tech Department

RBI Fin Tech Department

• The Reserve Bank of India (RBI) set up an internal “FinTech department” for focusing on the dynamically changing financial landscape in India.
• As per RBI circular, the FinTech department was set up on January 4, 2022.
• Decision to set up the department was taken in a bid to further focus on the area and innovation in FinTech sector in keeping pace with dynamically changing landscape.

What is the purpose of this department?

• FinTech department was created for following purposes:
• To give a thrust to fintech innovation
• To look into regulations
• To promote innovation in the sector
• To identify the challenges and opportunities associated with the sector as well as to address such challenges.
   

Published date : 11 Jan 2022 04:32PM