The meeting with start-ups comes at a time when RBI's action against Paytm Payments Bank has put the spotlight on regulatory compliance in the fintech industry.
Sitharaman exhorted the regulators, including RBI, that they may hold meetings via virtual mode once a month to discuss any questions/queries/concerns of the startups and fintech companies. (X)
Finance Minister Nirmala Sitharaman on Monday, 26 February, exhorted the Reserve Bank of India to hold monthly meetings with startup and fintech firms to address their concerns, officials said.
At a meeting with top executives of about 50 startup and fintech firms, Sitharaman also asked the Department of Financial Services to organise a meeting between start-ups and law enforcement agencies.
The meeting with start-ups comes at a time when RBI’s action against Paytm Payments Bank has put the spotlight on regulatory compliance in the fintech industry.
“During the deliberations, Sitharaman exhorted the regulators, including RBI, that they may hold meetings via virtual mode once a month to discuss any questions/queries/concerns of the startups and fintech companies,” an official statement said, after the meeting.
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