RTGS facility could be extended beyond Indian shores: RBI Governor

RBI Governor Shaktikanta Das has called for effective regulation which should help innovation in the fintech space while speaking at the 7th edition of the India Economic Conclave.

Das stated, “Since RTGS, which along with NEFT has been made round the clock now, has multi-currency capabilities, there is scope taking it beyond our shores.”

Underlining the huge role that technology and innovation played in serving the consumers better and faster, he said that the RBI processed 274 crore digital transactions to provide direct benefit transfer to people, most of which happened during the pandemic.

The RBI governor also said that the bank is committed to using all policy tools to support economic recovery while preserving price stability and financial stability. Admitting that the spike in new pandemic infections is a matter of concern, Das, however, said the nation is equipped with additional insurances this time to tackle the afflictions.