This includes regulating and supervising the conduct of individual firms. Technological change is disrupting the landscape of financial services. The competitive landscape is changing, with new entrants, new business models, a race by incumbents to invest in developing the necessary capabilities, and in many cases the potential for a fundamental disruption in the value chain of traditional financial services firms and sectors.
RBI attaches a lot of importance to this function and compliance by banks in this area is monitored through RBI’s supervisory processes and appropriate regulatory disclosures diligently. Thus, serving the  4  BIS central bankers’ speeches  customer satisfactorily is at once, an art, an inexact science as also a mandatory obligation governed by regulatory dictate and institutional arrangements to ensure compliance.