India’s Central Bank Deputy Governor Urges Controls to Keep Pace With Growth
Photo: TokenPost
India’s central bank wants financial institutions to adapt their oversight as they grow and expand digital services, Reserve Bank of India Deputy Governor Swaminathan J said at a Mumbai summit on Oct. 15. Swaminathan outlined three priorities: keep controls aligned with business growth, protect customer trust and assess resilience by how quickly firms detect problems, make decisions and recover. His remarks covered digital onboarding, artificial intelligence tools for underwriting and services provided by outside fintech companies. He said outsourcing work does not transfer a regulated institution’s responsibility for it.
Source: TokenPost
