Question
With reference to the Global Financial Innovation
Network (GFIN), consider the following statements: I. It is a consortium of over 80 international organizations committed to supporting financial innovation for the benefit of consumers. II. The GFIN is currently chaired by the Financial Conduct Authority (FCA), a leading regulatory body in the United Kingdom. III. From India, only the Reserve Bank of India is its member. Which of the statements given above is/are correct?Solution
Explanation: The Global Financial Innovation Network (GFIN) was formally launched in January 2019 by an international group of financial regulators and related organisations. The GFIN is a network of over 70 organisations committed to supporting financial innovation in the interests of consumers. It seeks to provide a more efficient way for innovative firms to interact with regulators, helping them navigate between countries as they look to scale new ideas.
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