Cybersecurity, data protection must to promote the financial formation, says RBI Governor (Shaktikanta Das)
RBI Governor (Shaktikanta Das) "Priorities for Action," cybercrimes are rising, issues are concerning; hence, data protection and cybersecurity are addressed to gain confidence, which is necessary for promoting financial formations, Reserve Bank Governor, said on Wednesday. "Adequate safeguards need to be reinforced to address issues of cybersecurity , mis-spelling, customer protection, data confidentiality, and grievance redress through appropriate financial education and Awareness. He further added that Financial Formation in the country is poised to grow exponentially with digital-savvy millennials joining the workforce. Das added in his words that in the future, increasingly, educational institutes should come forward to shoulder the responsibility of increasing financial literacy through appropriate awareness campaigns. The financial Formation program was started in 1954 with the promotion of cooperatives. The most considerable impact in recent years from the openi...