Regulatory system for digital banking intermediaries likely
Illustration: Rahul Awasthi
Synopsis
While discussions are still at an early stage, RBI is said to be considering a light touch regulatory approach that could see digital banking entities—from fintech startups to neobanks—being subject to operational guidelines.
Mumbai: India’s burgeoning digital banking ecosystem could soon come within a more formalised regulatory and supervisory mandate specified by the central bank as the regulator looks to accommodate roles for entities beyond conventional banks and non-banking finance companies (NBFCs).
An internal team at the Reserve Bank of India (RBI) is studying the scope of various classes of digital intermediaries functioning at the interface of India’s
