The Governor of Reserve Bank of India (RBI), Shaktikanta Das, said today that while the central bank is supportive of the fintech sector, it is also committed to protect the interests of the customers as well as ensure financial stability.

On the action taken against Paytm Payments Bank, Das said while addressing the media after RBI’s board meeting, “When a decision is taken, it is taken after much consideration and deliberation. Decisions are not taken in a casual manner. They are taken in a serious manner.”

“Let me be very clear that there is no review of the action taken against Paytm Payments Bank. The FAQ that will be coming soon will deal with customer interest issues,” he added.

Das said the RBI promotes and will continue to promote fintech, but customer interests and financial stability is of prime importance.

“There should not be any doubt about RBI's support for the fintech sector,” he said.

Das also said that India has played a pioneering role in promoting digital public infrastructure.

RBI governor on digital infrastructure growth

Linkage of UPI with the fast payments system of Mauritius and in Sri Lanka is now also launched, the RBI Governor said.

Das said that Sri Lanka is the third SAARC country with which India has entered into such an arrangement regarding UPI, the others being Nepal and Bhutan.

Mauritius is the first African country to agree to such an arrangement. 

“It is our endeavour to enter into collaborations with other countries on digital public infrastructure,” he said.

(Source: IANS)

-Edited for style

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