In a speech delivered at the High-level Policy Conference of Central Banks from the Global South last week, Swaminathan J, a Deputy Governor at the Reserve Bank of India (RBI), argued that supervision must evolve in order to keep pace with the emerging risks facing the financial sector, emphasizing the importance of a forward-looking, data-informed approach.
"As the world rapidly evolves, so does the nature of risks confronting the financial sector," Swaminathan said, referencing technological advancements, cyber threats, climate change, and geopolitical tensions. “Thus, the task of supervision has become more dynamic and critical than ever before.”
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