Question
In a move to enhance security, integrity and privacy of
financial sector data and bring transparency on fintechs in the country, the Reserve Bank of India (RBI) is set to establish a cloud facility and a repository for capturing information on fintech firms.Who will operate the to be established cloud facility?Solution
In a move to enhance security, integrity and privacy of financial sector data and bring transparency on fintechs in the country, the Reserve Bank of India (RBI) is set to establish a cloud facility and a repository for capturing information on fintech firms. The Indian Financial Technology and Allied Services (IFTAS), a wholly-owned subsidiary of the RBI, will set up and operate the cloud facility.
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