Fintech firms can check digital frauds: RBI Deputy Governor
The Hindu
As the digital payments landscape is maturing, Deputy Governor T Rabi Sankar said RBI's regulatory attention is shifting to the next level of reforms
Technology-driven fintech firms can play multiple roles in areas such as digital fraud prevention, financial inclusion and cross-border payments, said RBI Deputy Governor T Rabi Sankar.
The technological innovation in finance, he said, also raises hopes of substantial efficiency gains, better customer experience and greater social welfare.
While talking about the potential of the fintech firms, Mr. Sankar also underlined the need for effectively dealing with "threats of online frauds, compromise of customer credentials and data privacy and safety for the spring of hope not to turn into the winter of despair." He was speaking at Global FinTech Fest 2021 (GFF 2021), hosted by the Fintech Convergence Council (FCC), Payments Council of India (PCI), National Payments Corporation of India (NPCI) along with IAMAI.
Markets tumble as Sensex and Nifty decline, with investors wary of foreign fund outflows and muted earnings.
Johnson & Johnson introduces TECNIS PureSee IOL for presbyopia in India, offering high-quality vision and reduced visual symptoms.
PMI Electro Mobility raises ₹250 crore for electric buses, accelerating growth plans with consortium investment.
India's wholesale price inflation slightly eased to 2.31% in January, driven by food and manufactured costs, with fuel prices in deflation.
AI could one day allow people to continue conversations with their loved ones after their death, said Sebastian Thrun, founder of Google X.
India considering liberalized air service agreement with Singapore, potentially allowing more flights and airport access.
February 13 saw a huge turnout, and the police expect this number to go up on February 14.
Sensex and Nifty rise on optimistic trade pact news, US market rally; key gainers include ICICI Bank, Infosys.
Elon Musk says he will abandon his $97.4 billion offer to buy the nonprofit behind OpenAI if the ChatGPT maker drops its plan.
Union Finance Minister Nirmala Sitharaman assures control over food prices in 2025, monitoring inflation to protect citizens.
BSE Sensex and NSE Nifty close lower amid global cues, retail inflation dip, and foreign fund outflows.
RBI Governor emphasizes NBFCs' role in inclusive development, customer protection, and financial stability, urging participation in ULI.
JPMorgan Chase begins job cuts as part of planned reductions, with fewer than 1,000 employees affected in February.