RBI asks fintechs to improve cross-border payment systems

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RBI deputy governor T Rabi Sankar has called on fintech self-regulatory bodies to eliminate inefficiencies in cross-border payments and promote fair pricing.

At the Global Fintech Fest, he emphasized the 'India model of digitization.' Executive director P Vasudevan shared plans to internationalize UPI and extend India's financial technology infrastructure globally.

We will be very happy to ring-fence ourselves from whatever happens elsewhere, when we have this tech available," said Vasudevan.

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Article Details

Author / Journalist: TNN

Category: EconomyBusiness

Markets: India

Topics: Fintechs Business news T Rabi Sankar RBI Self-regulatory organisations Cross-border payment systems

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-30 @ 09:32:09 (2 days ago)

News Timezone: GMT +5:00

News Source URL: timesofindia.indiatimes.com

Language: English

Article Length: 418 words

Reading Time: 3 minutes read

Sentences: 19 lines

Sentence Length: 22 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Times of India

News ID: 22303448

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