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Fintech as a force multiplier

· Shaktikanta Das, Governor of the Reserve Bank of India (India)

Summary written by Dark Majestic in its own words · topics: payments, digital money and crypto-assets

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· Shaktikanta Das Wiki · Reserve Bank of India WikiFintech as a force multiplier

ContextAddress by Shaktikanta Das, Governor of the Reserve Bank of India, at the Global Fintech Festival, Mumbai, 20 September 2022.

Why it mattersDas warns that a few tech firms could dominate payments.

Problems raised
  1. Fintech concentration risks exist.
  2. Spillovers to the financial system may grow.
  3. Sustainability must be addressed.
Solutions proposed
  1. Use fintech as a force multiplier.
  2. Monitor concentration risk.
  3. Create a sustainable financial world.
Read full speech on bis.org ↗

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