Mumbai: On Wednesday, Shaktikanta Das, governor of India's central bank, the Reserve Bank of India, called for the swift establishment of a Self Regulatory Organisation (SRO) by the financial technology sector.
"Fintech players need to evolve industry best practises, privacy and data protection norms in sync with the law of the land," he said, adding that the sector can also establish guidelines for issues such as misselling, encouraging ethical business practises, and providing transparent pricing.
At the Global Fintech Fest, Das emphasised the importance of excellent governance for the long-term success of any organisation, including the fintech players.—Inputs from Agencies
