RBI Governor country is now fully prepared to deal with any crisis. New avenues should be created in the financial sector regarding service delivery in an effective manner. Regarding this, RBI Governor Shaktikantha Das called for the need for effective regulation that helps instead of discouraging innovation in the fintech space. In an event on Thursday, the central bank Governor Das said that effective regulation is in place for the RBI. Apart from this, he said that maintaining the health of banking sector and ethics-drive governance with strong capital base is also in the policy priority of the central bank.
The RBI governor said that RTGS and NEFT currently only deal in rupees, but its capacity can be increased by taking transactions in many currencies. That is, if it is innovated, then transactions can also be done in the form of dollars.
Technological and innovative discoveries have played an important role in providing better service and faster service to the consumers. Referring to the large role of technology and innovation, RBI Governor Das said that the RBI processed 274 crore digital transactions to provide direct benefit transfer (DBT) to the people. Most of it was processed during the epidemic.
