New Delhi, Jan. 13 -- The Reserve Bank of India (RBI) Deputy Governor, Shirish Chandra Murmu, highlighted the rapid transformation of the financial ecosystem driven by digitalisation, and said regulators must adopt agile, forward-looking, and risk-based approaches to safeguard financial stability while enabling innovation.
Delivering a special address at the third Annual Global Conference of the College of Supervisors in Mumbai, Murmu noted that while digitalisation has improved efficiency, transparency, competition, and access to financial services, it has also introduced new and complex risks that can spread rapidly across interconnected systems.
He cautioned that machine-speed transactions, automated decision-making, and always-on digi...