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January 11, 2024
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– RBI Governor Shaktikanta Das spoke at the Mint BFSI Summit and highlighted the resilience of the Indian banking sector.
– The introduction of digital lending guidelines has increased confidence in the fintech sector.

RBI Governor Shaktikanta Das addressed the Mint BFSI Summit and emphasized the strength of the Indian banking sector. He mentioned that the sector has emerged stronger from the challenges of recent years and is well placed to support India’s growth story in the future. Das also highlighted the importance of trust in a robust financial system and stated that the Reserve Bank is committed to safeguarding trust in the Indian financial system.

One of the key points discussed by Das was the increased confidence in the fintech sector following the introduction of digital lending guidelines. He stated that the data clearly shows that the confidence of private sector investors in fintech has gone up since the guidelines were implemented. This has positive implications for the growth and development of the fintech industry in India.

Das also stressed the importance of proactive risk management in banks. He called on the senior management, board of directors, audit and risk management committees, and internal audit function in banks to play a more proactive role in identifying and addressing risks. The RBI has issued detailed guidelines to ensure the quality and independence of governance and assurance functions in banks.

Overall, Das’s speech focused on the strength and resilience of the Indian banking sector, as well as the positive impact of digital lending guidelines on the fintech sector. The RBI is committed to maintaining trust in the Indian financial system and expects banks to take a proactive approach to risk management.

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