New Delhi, Apr 26 (KNN) The Reserve Bank of India (RBI) is committed to promote and deepen the cause of financial inclusion in India, said RBI Governor Shaktikanta Das.

During his opening remarks at the 17th CD Deshmukh Memorial Lecture, Das said “The recent developments in fintech have given a fresh impetus to financial inclusion process in the country.”

Taking cognizance of exponential growth of digitization and online commerce in India, policy efforts have been directed in recent years to put in place a state of the art national payments infrastructure and technology platform, he added.

Das stated “RBI is continuously aligning its regulatory and supervisory framework so that the evolution of fintech can be leveraged to widen and ease the financial access by the excluded population.”

In view of the growing significance of fintech innovations and their interface with the financial sector as well as financial sector entities, RBI is strengthening its surveillance framework and has also issued draft guidelines on ‘Enabling Framework for Regulatory Sandbox’ for obtaining the comments of stakeholders.