Categories: Banking

RBI set up a separate department for “FinTech”

Reserve Bank of India has set up a separate internal department for fintech (Financial technology). The new department has been created with effect from January 04, 2022, by subsuming the FinTech Division of Department of Payment and Settlement Systems, Central Office (DPSS, CO).

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The department will not only promote innovation in the sector but also identify the challenges and opportunities associated with it and address them in a timely manner. Ajay Kumar Choudhary, who was recently promoted as the Executive Director of RBI was appointed as head of the department.

Important takeaways for all competitive exams:

Reserve Bank of India Founded: April 1, 1935;
Reserve Bank of India Headquarters: Mumbai, Maharashtra;
Reserve Bank of India Governor: Shaktikanta Das.

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Sumit Arora

As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.