RBI governor Shaktikanta Das warns banks to be mindful of social media risks

MUMBAI: Reserve Bank governor Shaktikanta Das has asked banks to remain alert in the social media space and also strengthen their liquidity buffers given the risks arising from the growing digitization of the financial markets which if not addressed well lead to financial stability risks.

Addressing the RBI-organised function in the Capital as part of the 90th-year celebrations of the Reserve Bank of India on Monday, Das said, it is well-recognised that the growing digitalisation of financial services has enhanced the efficiency of the financial sector across the globe.