The Reserve Bank of India (RBI) Governor, along with Deputy Governors, held an interactive session with Payment System Operators (PSOs) and fintech companies in Maharashtra, India, on March 6, 2025. The discussion focused on the growing role of fintechs in India’s financial sector and the need for regulatory compliance among new market entrants. RBI reaffirmed its commitment to responsible innovation while ensuring financial stability through regulatory oversight.
The Reserve Bank of India (RBI) convened a high-level meeting with fintech companies and Payment System Operators (PSOs), emphasizing the importance of compliance in an evolving regulatory landscape. RBI Governor Sanjay Malhotra, along with Deputy Governors, engaged in discussions with industry leaders and self-regulatory organizations (SROs) to address concerns and expectations from the financial sector.
Fintech firms have played a crucial role in India’s rapid digital financial transformation, offering innovative payment solutions and increasing financial inclusion. However, the RBI stressed that companies new to the regulatory space must adhere to compliance norms to maintain financial stability and consumer trust.
The session focused on responsible innovation, with fintech executives sharing feedback on the challenges they face in regulatory processes. The RBI reaffirmed its commitment to consultative interactions and maintaining an open dialogue with industry stakeholders to ensure the sustainable growth of the fintech ecosystem.
With India’s digital payments market continuing to expand, the central bank aims to strike a balance between fostering innovation and ensuring adequate oversight. The meeting underscored RBI’s regulatory priorities, signaling a more structured compliance framework for new financial technology entrants.
