We welcome the RBI’s consultative approach in shaping policies that enable growth while ensuring compliance and consumer protection: Dilip Modi, Founder & CEO of Spice Money
FinTech BizNews Service
Mumbai, March 6, 2025: The Reserve Bank of India (RBI) Governor Sanjay Malhotra met with non-bank Payment System Operators and Fintechs in Mumbai on Wednesday (March 5) as part of the central bank’s ongoing engagement with the payments and fintech ecosystem. He stressed the importance of responsible innovation and regulatory compliance, particularly for new entrants in the financial space. In this context, here are sharing insights from Mr. Dilip Modi, Founder & CEO of Spice Money, on this significant development:
"The Reserve Bank of India’s proactive engagement with fintech and non-bank payment system operators is a significant step towards fostering a collaborative and responsible digital financial ecosystem. At Spice Money, we strongly believe that fintech-led innovation plays a critical role in driving financial inclusion, especially in rural India, and we welcome the RBI’s consultative approach in shaping policies that enable growth while ensuring compliance and consumer protection.
As a responsible fintech for inclusion, we remain committed to responsible innovation, leveraging technology to provide secure, accessible, and seamless financial services to the underserved. Our 1.5 million Adhikaris (Merchant) network is at the heart of our operations, bridging the financial gap for millions in Bharat.
We look forward to continued collaboration with the RBI to strengthen regulatory clarity, enhance last-mile digital financial access, and create a more inclusive economy for Bharat. By working together, we can unlock the full potential of fintech to transform millions of lives and accelerate India’s journey towards a truly digital and financially empowered future."
