RBI appoints Ajit Ratnakar Joshi its executive director
As RBI's executive director, Joshi will supervise the Department of Statistics and Information Management as well as the Financial Stability Department.
RBI Governor Sanjay Malhotra on Thursday asked fintech firms and digital payment companies to ensure responsible innovation and better compliance.
He expected “responsible innovation and emphasized the need for ensuring compliance by the entities who are new to regulatory space.”
Advertisement
During the interaction, the Governor acknowledged the critical role of FinTechs, account aggregators, and digital lending service providers in driving India’s financial sector growth.
Advertisement
He stressed the importance of responsible innovation and regulatory compliance, particularly for new entrants in the financial space.
“The Governor, in his remarks, recognised the important role played by the FinTechs, including the payment system players, account aggregators and digital lending service providers in the growth of India’s financial system and economy,” RBI said in a statement.
Governor Malhotra also met with non-bank payment system operators and fintech companies in Mumbai on Wednesday.
At the meeting, industry participants shared their perspectives on emerging payment trends, industry initiatives, and regulatory expectations.
The Governor reaffirmed RBI’s consultative approach in fostering innovation while ensuring financial stability.
The session was attended by Deputy governors M Rajeshwar Rao, T Rabi Sankar, and Swaminathan J, along with Executive Directors overseeing Payments, Fintech, and Regulation.
Advertisement
