India is not planning to implement harsher regulations to curb fintechs, according to an official statement. This comes as a relief to the fintech industry, which has been under scrutiny in recent times. The official emphasized that the government’s focus is on fostering innovation and growth in the fintech sector, while ensuring consumer protection and financial stability. The statement also highlighted that any regulatory measures would be proportionate and would not stifle innovation. The official reassured that the government is committed to maintaining a balance between encouraging fintech innovation and ensuring the safety and security of consumers and the financial system.
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