The interaction with the start-up and fintech ecosystem partners was organised to enable the free exchange of ideas to bolster and scale up operations to facilitate global competitiveness by enabling growth in the fintech sector.
India s financial regulator, the Reserve Bank of India (RBI), is intensifying oversight of fintech firms after inspections revealed lapses in customer due diligence. The RBI has increased meetings with executives and invested in better technology to monitor regulatory compliance. This comes after the central bank ordered Paytm to shut down its banking unit for persistent non-compliance.