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Indian central bank sets up working group on fintech, digital banking

The ReserveBank of India established a regulatory working group to studyissues relating to fintech and digital banking in the country.

The central bank said July 14 that the working group will lookinto and report on fintech developments and their impact on the financialsector. The group will also assess opportunities and risks for thefinancial sector arising from digitization and use of fintech.

In addition, the group will work on an appropriateregulatory response for enhancing fintech and digital banking.