RBI Governor confirms no system-wide issue with NBFCs, addresses FinTech regulation, and emphasizes governance.
RBI Governor Shaktikanta Das confirms that there's no system-wide issue with NBFCs following recent regulatory interventions, declaring them isolated cases. The RBI will release a framework for FinTech Self-Regulatory Organization and will take action against entities committing "egregious" violations. Das calls for banks and NBFCs to prioritize governance and adherence to guidelines as they handle public funds.
April 05, 2024
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