Friday, 24 March, 2023

RBI Deputy Governor says need to regulate FinTech companies

<p>RBI Deputy Governor T Rabi Sankar has stated that &quot;Any fintech entity that provides liquidity services is effectively functioning as a bank and therefore should be subjected to the same legal, regulatory, supervisory regime that a bank is subjected to&quot;. Speaking at Global FinTech Fest, he spoke about the need to regulate FinTech companies, he said regulation should be entity-based more than activity-based.</p> <p>&nbsp;</p> <p>&nbsp;</p>