Fintechs Don’t Need Banking License, Sector Needs To Be Regulated For Banking Activities-Rabi Sankar

The Fintech entities don’t need to obtain banking licenses for activities similar to banks such as deposits and loans, but they need to be regulated similarly for similar activities, says T Rabi Sankar, RBI Deputy Governor. Speaking at Moneycontrol Start Up Conclave he said that similar activities will also provide a level playing field. He also said regulations also ensure a healthy growth of the industry. Watch the video to know more!
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