RBI initiate its own Fintech Dept to focus on ‘lively’ Indian market sector

RBI introduced its own Fintech Department set up to support innovation and modernization in India that will allow transformation in the
Indian market.

“With a view to give further focus to the area and facilitate innovation in the Fintech sector in keeping pace with the dynamically changing financial landscape, it was decided to set up a fintech department in the bank”, states the internal circular, accessed by media publications.

The Central bank has assigned Ajay Kumar Choudhary, to head theDepartment. RBI has also addressed innovation with the purpose of bringing downthe cost to improve financial inclusion.

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NISHA HIRANI

Nisha is a Content writer and reporter. She previously worked with The Times of India as a freelance cultural reporter. She has also interned with 94.3 My FM as content writer and a voice over artist.

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