‘Too much regulation can affect innovation in banking’
C. Rangarajan emphasizes the need for balanced regulation to foster innovation in banking without compromising stability.
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Too much regulation can affect innovation, said C. Rangarajan, Former Governor of the Reserve Bank of India (RBI) and Chairman of Madras School of Economics.Delivering the presidential address at the 12th G. Ramachandran Memorial Lecture here by The Southern India Chamber of Commerce and Industry (SICCI), in association with the Madras School of Economics, he said: “We need innovation. We need changes. We need to find new answers to new problems. Therefore, it is critically important that we do that. But then, are innovations risk-free? Therefore, the big question before regulators at the top level is to find a balance between making innovations happen and limit regulation.”
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