Reserve Bank of India (RBI) Governor Shaktikanta Das has addressed criticism suggesting that the central bank is opposed to fintech companies in India. He clarified that the recent regulatory action taken against Paytm Payments Bank (PPBL) was specifically directed at a regulated entity.
Das stated, “The RBI’s action was directed at a regulated entity, not against any fintech company. I fail to comprehend why there is a narrative suggesting that the RBI is targeting fintech firms. In the case of PPBL, the action was specifically aimed at the payments bank. I am not adopting a defensive stance on this matter,” during an interview with ET Now television channel on March 6.
