The fintech industry is required to collaborate with this department for regulatory guidance and assistance in policymaking. Regulating fintech: In 2022, the central bank established a dedicated fintech department to stimulate innovation in one of the rapidly expanding sectors within the broader financial services industry. Appointed as an executive director on July 6, he assumed responsibilities for currency management, the enforcement department, and the corporate strategy and budget department, which will continue to be under his watch. Vasudevan’s CV: Vasudevan previously served as the chief general manager overseeing the Department of Payment and Settlement Systems. The reshuffle happened earlier this month. The Reserve Bank of India (RBI) has appointed P Vasudevan, a central banker for 30 years, as the head of its fintech department.
