Mumbai, Jan. 9 -- The Reserve Bank of India (RBI) Governor on Friday said our aim should be to ensure that digitalisation and innovations are aligned with fair outcomes for consumers.

While speaking at the Third Annual Global Conference of the College of Supervisors in Mumbai, Governor Malhotra said, "For all of us, protecting customers' interest is not just a priority, it has to become the cornerstone of a sustainable and resilient financial system."

He said the digital channels facilitate our efforts by improving inclusion and convenience. "But, without guardrails, they can also facilitate opaque pricing, weak disclosures and inappropriate recovery practices."

"A key element of this endeavour should be to protect customers from the m...