By Jaspreet Kalra
From hiring analysts to scrutinise customer data to holding frequent meetings with executives, India’s financial regulator is bolstering oversight of fintech firms in a signal of an end to years of light-handed regulation of a key business sector.
Those steps from the Reserve Bank of India (RBI) come after regular inspections over the past year found a number of fintech firms have been lax in following, for example, customer due diligence, five sources with knowledge of the matter said.
Subscribe now to have unlimited access
With our subscription, you will have unlimited access to the AML Intelligence site, updated daily with the latest analysis, opinion, and breaking news across the sector, newsletter delivered twice per week, access to our Global Bank Fines & Penalties database, free access to Boardroom Series and more!
