T Rabi Sankar, Deputy Governor, RBI, says over time, virtually all securities will fall under the FAR category, and the move is unambiguously towards eventual unfettered access for non-residents into government securities.
Union Bank of India's MD and CEO Rajkiran Rai G said digital lending is changing the banking landscape in a big way because of the availability of data and many ecosystem partners collaborating with banks.
RBI has explained that its action is based on the deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers.