In this episode of CAM Radio – Clear Cut: Clarity With Class, former Executive Director of the RBI Lily Vadera and our Partner Anu Tiwari, explore the RBI’s regulatory landscape over time, the evolving BFSI sector, whether the time has come for digital-only banks, the impact of the Digital Personal Data Protection Act on the BFSI sector and more. They explore how regulation in India is not static and keeps changing with the need of the hour, how entities, which were once entity-specific then became lighter-touch regulations, exploring the growth of NBFCs and the growing interconnectedness of banks, how there’s a more holistic approach today that looks not just entity-based, but activity-based, how the risk of cybersecurity and fraud needs to be addressed as India gets more into digital banking, a collaborative approach between banks and FinTechs, with banks bringing in experience and FinTechs bringing in technological expertise, rights that data principals would be given that would be built into the notice process due to the DPDP Act 2023 and more.
