Regulations should not create unintended barriers for financial inclusion: RBI Guv

MUMBAI: Reserve Bank Governor Sanjay Malhotra on Wednesday said regulations should not create “unintended barriers” for deepening financial inclusion.

Speaking at the Financial Action Task Force (FATF) event here, Malhotra said policymakers should also be mindful and not be “overzealous” with their measures, adding that legitimate activities should not be stifled.

India has made substantial progress on financial inclusion with 94 per cent of adults now having a bank account, Malhotra said, adding a word of caution for regulators. PTI