The Reserve Bank of India has cautioned banks and NBFCs against compromising internal controls and regulatory compliance in their pursuit of rapid expansion. RBI Deputy Governor Swaminathan J emphasized that some lenders are prioritizing short-term gains over sound practices, leading to increased supervisory interventions. He urged financial institutions to uphold ethical standards and implement adequate safeguards for digital tools.
from Banking/Finance-Industry-Economic Times https://ift.tt/KVf0jUJ
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