India, March 6 -- Reserve Bank of India (RBI) governor Sanjay Malhotra has underscored the need for "responsible innovation" in the country's burgeoning fintech space.

Malhotra made the comments during a meeting with representatives of non-bank payment system operators, fintech players, self-regulatory organisations (SROs) and other stakeholders. The interaction was part of RBI's engagements with the payments and fintech ecosystem.

While lauding the role of fintech startups, RBI Governor also called on the new players in the space to comply with existing laws while fostering innovation.

". The Governor underscored the need for responsible innovation and emphasised the need for ensuring compliance by the entities who are new to regulato...