Regulation Should Not Be An Impediment To Innovation

Regulation should not be an impediment to innovation in the fintech sector: RBI Governor Shaktikanta Das.

Reserve Bank of India (RBI) Governor Shaktikanta Das on Thursday called for effective regulation in the fintech sector.

He stressed the need for such regulation in the sector which would prove to be helpful for innovation in the sector and not be a hindrance in progress.

Addressing an economic conclave, the governor said that effective regulation is a priority area of ​​the Reserve Bank.

He said that at the time of making policy, it is preferred to maintain the health of the banking sector and ensure a strong capital base as well as ethics-based work.

RBI Governor Das underlined the important role of technology and innovation in better and faster service to the customers.

He said that the RBI processed 274 crore digital transactions that provide direct support to the people. He said that most of these transactions took place at the time of the epidemic.

RBI Governor Das said that despite the official stand against private cryptocurrency, India’s central bank is assessing concerns about financial stability. It is noteworthy that RBI is working towards bringing its digital currency.

The head of the central bank said that RBI is committed to adopting all policy tools to support economic recovery while simultaneously ensuring financial stability along with the value.

Das termed the increase in new cases of the corona epidemic as a matter of concern and said that the country is ready with additional insurance cover to deal with the problems this time.

Gold Rate Today: Gold futures fall, silver becomes cheaper, know what is going on

The futures prices of gold and silver declined on Thursday. On the Multi Commodity Exchange (MCX) at 10:35 am in April 2021, the price of delivery gold was down by 42 i.e. 0.09 percent to Rs 44,818 per 10 grams.

In the previous session, the gold price in the April contract was Rs 44,860 per 10 grams.

Similarly, the price of gold in the June contract was trading at Rs 45,260 per 10 grams with a decrease of Rs 16, ie 0.04 percent. In the previous session, the value of June contract gold was at Rs 45,276 per 10 grams.