ARTICLE · 06 AUGUST 2024

AKP Banking & Finance Digest- August 05, 2024

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Reserve Bank of India ("RBI") has released its report on Currency and Finance for 2023-24, titled "India's Digital Revolution."

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1. Regulatory Updates

1.1. India

1.1.1. RBI releases report on Currency and Finance 2023-24

Reserve Bank of India (“RBI”) has released its report on Currency and Finance for 2023-24, titled “India's Digital Revolution.” The report underscores India's position as a global leader in digital innovation, driven by its robust digital infrastructure, vibrant FinTech sector, and supportive policies. It highlights how digital technologies enhance financial inclusion, fiscal transfers, and cross-border transactions. The report also examines emerging opportunities and challenges, noting that a strong regulatory framework boosts consumer confidence and financial market efficiency. It further addresses cybersecurity, data privacy, and the need for ongoing skills development. RBI

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