Economy
RBI Deputy Governor Urges Purpose, Prudence Before Scaling Finance Technology
RBI Deputy Governor Rohit Jain urged finance firms to pair technological innovation with purpose, safeguards and accountable policy.
What happened
Speaking at the Global Fintech Fest in Mumbai on September 9, 2026, Jain said AI, tokenisation, distributed technologies and quantum computing could improve finance, but highlighted risks from speed, concentration and opacity.
Why it matters
For banks and fintechs, the message likely means technology deployment must address genuine financial needs while preserving resilience, customer protection and accountability. Higher-impact uses, such as automated credit or transactions, warrant stronger governance, validation, oversight and intervention.
Source: RBI Speeches