Regulations must not create unintended barriers to financial inclusion: RBI

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Regulations must not create unintended barriers to financial inclusion: RBI - Business Standard

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To effectively counter these threats, we need to continue close cooperation among various stakeholders — government agencies, financial entities in both the public and private sectors, civil society, and others,” he added.

He cautioned that threats from money laundering and terror financing to national and global financial systems are continuously evolving and becoming more sophisticated.“This is primarily due to technological advancements.

He also acknowledged India’s progress in making digital payments accessible, affordable, and convenient.“While card networks have helped developed economies improve payment systems, fast payment systems have enabled emerging market and developing economies to leapfrog in this area,” he said.