Archive · 13 Jan 2026
RBI Deputy Governor Calls for Agile Digital Banking Regulation
The Reserve Bank of India (RBI) Deputy Governor Shirish Chandra Murmu spoke about how banks and regulators need to adapt to the digital age.
He said that while digital banking has made things more efficient, it has also introduced new risks that can spread quickly.
He warned that regulators need to be more proactive and use technology to monitor risks better.
He also talked about the importance of maintaining public trust and ensuring that banks are accountable for their technological operations.
He gave the example of a big IT outage in 2024 to show how quickly problems can happen.
He also mentioned that regulators should use a balanced approach that combines clear rules with flexibility, supported by strong supervision and enforcement.
RBI Deputy Governor Shirish Chandra Murmu emphasized the need for agile, forward-looking, and risk-based approaches to regulation in the digital era.
He highlighted the rapid transformation of the financial ecosystem driven by digitalisation, which has introduced new and complex risks.
Murmu cautioned that traditional regulatory frameworks must evolve towards proactive detection and timely intervention.
He stressed the importance of accountability for technological outcomes, even when operations are outsourced or automated.
The RBI DG cited initiatives like MuleHunter.ai, the PRAVAAH portal, and DAKSH as examples of how technology can improve risk monitoring and reduce compliance burden.
- Who
- RBI Deputy Governor Shirish Chandra Murmu
- What
- Highlighted the need for agile, risk-based regulation in the digital era
- When
- January 12, 2026
- Where
- Mumbai, at the 3rd Annual Global Conference of the College of Supervisors, RBI
- Why
- To safeguard financial stability, enable innovation, and address new and complex risks introduced by digitalisation
- Speaker
- RBI Deputy Governor Shirish Chandra Murmu
- Event
- 3rd Annual Global Conference of the College of Supervisors, RBI, Mumbai
- Date
- January 12, 2026
- Key Focus Areas
- Agile Regulation, Digital Risks, Financial Stability, Operational Resilience, Regulatory Communication
- Notable Incident
- Global IT Outage in July 2024
- Regulatory Shift
- From Periodic to Proactive Detection and Timely Intervention
- Central Themes
- Operational Resilience, Data Governance, Ecosystem Dependencies, Cyber Threats, Misinformation
Sources
Supervision must shift from periodic snapshots to continuous awareness: RBI Dy Guv Swaminathan
Banking in digital era: Three things RBI wants lenders to keep in mind
Balance sheets no longer tell the full story of bank risk: RBI DG Swaminathan
Can't treat compliance as a quarter-end activity: RBI DG
