BusinessPhoto: Business StandardRBI Deputy Governor Swaminathan on Finance Frictions and Controls
Reserve Bank of India Deputy Governor Swaminathan J. stated that not all frictions in finance indicate inefficiency; some controls help reduce errors, fraud, and adverse selection. Speaking at the FE Modern BFSI Summit 2026 in Mumbai on October 15, he emphasized that while technology can automate or redesign these controls, their risk-mitigating function must be preserved and evolve with processes, including third-party activities.
Business Standard··Mumbai



