RBI announced setting up a New Fintech department.

RBI ( Reserve Bank Of India) announced to set up a new Fintech department. The Executive Director of RBI will administrate this department. As per reports, this fintech department will help this sector to promote innovation and to identify the challenges and opportunities linked with this industry.

Ajay Kumar Choudary, who was promoted as an Executive Director Of RBI, will not only look after the fintech department but also be working closely with the risk monitoring department and the inspection department.

Ajay Kumar Choudary has served in supervision regulation, payments, settlements, and currency management and also in the other areas in the Reserve Bank in its central office and regional offices for three decades.

RBI announced setting up a New Fintech department.
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