Indian Banks’ Association urged to enhance innovation, regulation

M Nagaraju, secretary of the Department of Financial Services, has called on the Indian Banks’ Association to enhance innovation and regulation in banking. He emphasized the need for uniform standards and better support for underserved communities. Nagaraju highlighted the importance of digital payments and expanding banking services. He urged the IBA to promote research and develop financial products that meet diverse needs in India. He also stressed the need to improve financial literacy and cybersecurity awareness. Nagaraju encouraged collaboration with banks to support government initiatives for micro, small, and medium enterprises and promote inclusive development.