On Big Tech Firms, Policy And Loan Recovery, What The RBI Governor Said

17 Jun 2022, 11:01 AM IST

Big tech's play in finance poses systemic concerns: RBI Governor Shaktikanta Das

RBI has not fallen behind the curve, we have been in line with requirements of our time. Tolerance of high inflation during the pandemic was a necessity and we stand by our decision.
If we had adopted tighter policy, it would have been disastrous for economy that contracted 6.6 pc in FY22.
The process of coming out of easy liquidity system takes long time on factors beyond our control.
Big technology companies' play in finance poses systemic concerns like overleverage. The RBI will soon be issuing guidelines to make digital lending ecosystem safe and sound.
Loan recovery agents using harsh methods like calling up at odd hours, foul language unacceptable.