Reserve Bank of India (RBI) introduced the e-PRAVAAH portal to simplify licensing processes and reduce regulatory complexities. This digital platform allows Fintech firms to file applications online which saves time and eliminates excessive paperwork. Simplified compliance encourages businesses to focus more on innovation and expansion.
Self-regulatory organizations (supported by the Reserve Bank of India) guide Fintech companies to maintain operational standards. These measures reduce regulatory burdens while also making it a point for accountability and ethical business practices. The government’s initiatives create an environment where compliance becomes straightforward and promotes sector-wide growth.
