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Experts Suggest Regulatory Reassessment To Boost Fintech Sector And Ease Compliance Burden

OutlookIndiaOutlookIndia · 10m
Experts Suggest Regulatory Reassessment To Boost Fintech Sector And Ease Compliance Burden

Experts have highlighted the need to review regulatory policies and guidelines in order to support the fintech sector's drive for financial inclusion and product penetration among under-served populations. Recent actions taken by the Reserve Bank of India against Paytm Payments Bank have raised concerns that regulatory environments could hinder innovation in the industry. However, the government has generally been supportive of the startup ecosystem, taking a balanced approach to fostering innovation while ensuring compliance. A cohesive regulatory framework will bring transparency and security to the fintech ecosystem, and tailor-made regulations tailored to the technology-led sector should be considered.

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