New Delhi: Robust regulatory frameworks are needed to protect customers from misuse and fraud resulting from rapid digitalisation in financial services and proliferation of fintech platforms, RBI Deputy Governor Swaminathan J said while speaking at an event in Paris.Addressing the Global Money Week 2024 earlier this week, the Deputy Governor said the Covid-19 pandemic accelerated digitalisation in financial services, prompting a swift transition to online mode by service providers and customers, according to an RBI statement. Accompanying this surge in digitalisation was also the proliferation of fintech platforms, he said. Often operating outside the regulatory envelope and…
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Stronger regulations needed to check fintech frauds: RBI
