Technology should also not only be looked as a cost cutting tool but as a value creating opportunity to customers and through this to the organisation. 7. I would like to talk to this august group about the increasing acceptance of technology and innovation in our lives.
The ability to combine traditional functions with innovation has been critical to ensure orderly growth of the financial sector. To achieve specific end goals, apart from its own initiatives, the RBI has been an institution builder and has nurtured the setting up and development of many institutions1 like NABARD, CCIL, NPCI, IDRBT, IGIDR and ReBIT. 3.