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Banking - General Knowledge Questions
Which bank has set up a separate internal department for fintech (Financial technology)?
A)
Union Bank of India
B)
Reserve Bank of India
C)
State Bank of India
D)
Asian Development Bank

Correct Answer :   Reserve Bank of India

After setting up a financial technology unit back in 2018, the Reserve Bank of India (RBI) said it will now put together a separate fintech department in view of the sector’s rapidly changing landscape.
 
In an internal circular, the central bank said it decided to set up the department to further focus and facilitate innovation in the Indian fintech sector. “Accordingly, a new department has been created with effect from January 4, 2022, by subsuming the fintech division of DPSS, CO. The department will not only promote innovation in the sector, but also identify the challenges and opportunities associated with it and address them in a timely manner,” RBI said in the circular.

Source : India Times

Published On : January 12, 2022
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