In a report published on Thursday, Reserve Bank of India (RBI) said Big Tech expansion in the financial services sector has given rise to “important policy issues.”
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India’s central bank says growing presence of Big Tech in financial services a concern
“Specifically, concerns have intensified around a level playing field with banks, operational risk, too-big-to-fail issues, challenges for antitrust rules, cybersecurity and data privacy,” said the Indian central bank.
