Fintechs cannot bypass compliance irrespective of scale: RBI ED P Vasudevan

The Reserve Bank of India (RBI) has stated that fintech companies must adhere to regulatory compliance requirements, regardless of their scale or technological advancements. This directive emphasizes the importance of maintaining regulatory standards in the rapidly evolving fintech sector. Compliance ensures that fintech firms operate within legal frameworks, protecting consumer interests and maintaining financial stability. The RBI's stance reflects its commitment to regulating the fintech industry effectively while encouraging innovation within a controlled environment.