Regulation plays catch-up in certain areas, enables innovation: Razorpay MD

"It is important how you absorb acquisitions and make them successful. We care about the kind of firms we acquire, and how we integrate them with the mothership"

At the Business Standard BFSI Insight Summit 2024, Shashank Kumar, co-founder and managing director, Razorpay, said regulation was necessary for the growth of the fintech ecosystem, and that norms did not necessarily stifle innovation at new-age companies. In a conversation with Business Standard’s A K Bhattacharya, he underlined the need for the Reserve Bank of India (RBI) to be the single regulator for all financial institutions, including traditional ones and fintech firms.

 

Acknowledging that while innovation at firms outpaces regulation, he said there had to be a system to ensure the safety of the sector. Kumar noted that the collaboration