Friday, 24 March, 2023

RBI is skeptical of letting big-tech firms into financial services

<p>The RBI has warned that letting the big tech firms enter the financial services could lead to regulators facing difficulties in maintaining adequate stability and governance of the ecosystem. RBI suggests setting down an international standard based on the coordination of rules to supervise the big techs. It also advises the use of an entity-based prudential regulation approach. The NPCI had introduced a market share-capping rule for third-party apps on UPI.<br /> <br /> &nbsp;</p>