State Bank chief calls for national financial grid to combat frauds

CALLING for more concerted efforts to combat the increasing menace of financial frauds and boost credit access to the needy section of the society and the economy, State Bank chairman Challa Sreenivasulu Setty has said there is a need for developing shared digital infrastructure such as a ‘national financial grid’ and a digital payment intelligence corporation.

- BENN KOCHUVEEDAN @ Mumbai

Developing shared digital infrastructure such as a ‘national financial grid’ and a ‘digital payment intelligence corporation’ will create a unified digital backbone for financial services which can go a long way to combat frauds and also improve the access to credit, both of which are crucial for achieving the economic vision of being a developed nation by 2047, Setty told a Cll event h