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FM Nirmala Sitharaman asks regulators to hold monthly meetings with startups and fintech firms

in National February 27, 2024 Comments Off on FM Nirmala Sitharaman asks regulators to hold monthly meetings with startups and fintech firms 312 Views

Newdelhi:27/2/24:Finance Minister Nirmala Sitharaman has urged the Reserve Bank of India to hold monthly meetings with start-ups and fintech companies to address their regulatory concerns. While chairing the meeting with top executives of about 50 start-ups and fintech firms yesterday, the Minister said that innovative solutions by fintech companies are essential to the financial services sector. However, they must ensure strict compliance with regulations, she added.

The Minister asked the Department of Financial Services (DFS) to conduct a workshop with law enforcement agencies for fintech ecosystem partners to discuss their issues and concerns. She also sought suggestions from fintech leaders to achieve greater ease of doing business and ease of living for consumers. RBI deputy governor T. Rabi Sankar, SBI Chairman Dinesh Khara, and officials from NPCI, Canara Bank, and Bank of Baroda were also present at the meeting.

This meeting comes in the wake of the RBI’s action against Paytm Payments Bank, which has brought regulatory compliance in the fintech industry into focus.

About Editor in chief

Ashok Palit has completed his graduation from Upendranath College Soro, Balasore and post graduation from Utkal University in Odia Language and literture.. He has also carved out a niche for himself as a scribe of eminence after joining the profession in 1988. He is also an independent media production professional. He brings loads of experience to Advanced Media, Ashok Palit as a cineaste has been active in film criticism for over three decades. As a film society activist, he soared to eminence for his profound commitment to the art film appreciation and aesthetics of cinema. His mode of discourse is often erudite but always lucid and comprehensible marked by a perfect acumen so rare in the field. A film aesthete with an immense fond of critical sensibilities, he wrote about growth and development of odia cinema in New Indian Express, The Times of India, The Hindustan Times, The Asian Age and Screen. He has been working as an Editor for Cine Samaya from 2002-2004.. He had made solid contribution on cinema in many odia Dailies and weekly such as Samaj, Prajatantra, Dharatri, Samaya, Satabadi, and weekly Samaya.
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