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Regulation Of Bigtech And Fintech Companies : RBI

Regulation Of Bigtech And Fintech Companies : RBI

RBI governor has asked for regulation of Bigtech and Fintech companies. For this, With an aim to provide secure and affordable e-payments, the Reserve Bank of India (RBI) has come up with a document ‘Payments Vision 2025’

Document ‘Payments Vision 2025’:

  • As part of its Vision 2025, the RBI will attempt
    • regulation of big tech and fintech in the payments space
    • explore guidelines on payments that involve BNPL(buy now pay later) services
    • work towards the introduction of CBDC (central bank digital currency)
    • seek inclusion of rupee in continuous linked settlement (CLS) (CLS provides protection for cross-currency settlement in 18 currencies)

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