FinTech Bank, Not Yet!

“… is virtually impossible for legislation to keep in step with the fast mutating fintech landscape. Until legislation catches up, regulation has to adapt to ensure that the financial system absorbs digital innovation in a non-disruptive manner… Slowing down the process of change, which attracts the criticism of stifling innovation – is often the best way to ensure customer protection…”– RBI Deputy Governor Mr T. Rabi Sankar, Sep 2021 This statement of the regulator, at a FinTech Industry event, makes it amply clear that for the time being, it would…

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Vaishnaw Invites G20 Nations For Cooperation In Digital Inclusion, Social Empowerment

IT Minister Ashwini Vaishnaw has invited G20 countries for cooperation towards digital inclusion and social empowerment, highlighting that digital platforms in India have prevented leakages in the delivery of government schemes, an official statement said on Friday. Vaishnaw — at the G20 Digital Ministers’ meeting hosted by Italy on Thursday — said that digital platforms like Aadhaar and direct benefit transfers have not only empowered people in India but have also led to savings of over USD 24 billion in the last seven years. ‘Providing digital identity Aadhaar to 1.29…

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