News Snapshot:
The new department will seek to promote innovation in the financial sector including by exploring policy interventions by the RBI. The RBI (Reserve Bank of India) reportedly set up a new fintech department on 4 January that will be in charge of regulations in the space and provide an impetus to innovation. “With a view to give further focus to the area and innovation in fintech sector in keeping pace with the dynamically changing landscape, it was decided to set up a fintech department in the bank,” the RBI said in an internal circular. According to local reports , the...
