The Reserve Bank of India (RBI) is working on regulations for financial technology companies (fintechs) and is in consultation with the industry for the same, deputy governor T Rabi Sankar said on Friday. However, he did not give any timeline when these regulations will be issued.
“There are no fintech regulations right now. We are talking to the industry and understanding whether there is a need to regulate them. We cannot give a timeline at the moment. But it will come only after consultation with them,” he said at the Moneycontrol Startup Conclave.
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