Digitalisation improving access to financial services, but challenges remain: RBI governor

Digitalisation in finance is paving the way for next-generation banking, improving access to financial services at affordable costs. But it also presents challenges related to cybersecurity, data privacy, vendor and third-party risks and customer protection, Reserve Bank of India (RBI) governor Shaktikanta Das has said.

Das made these remarks in the foreword of the central bank’s ‘Report on Currency and Finance (RCF) for the year 2023-24’.