RBI Guv Sanjay Malhotra calls private sector, first line of defence in security of financial system
At the inaugural ceremony of Private Sector Collaborative Forum 2025 (PSCF 2025), Reserve Bank of India Governor Sanjay Malhotra on March 26 said that private sector plays a very vital role in keeping the financial system secure. He also called private sector as the first line of defence in the security of the financial system.
“...The private sector plays a very vital role in keeping the financial system secure. They are the first line of defence in the security of the financial system. Their role in implementing due diligence procedures, conducting robust risk assessments, monitoring transactions and reporting suspicious activities is very critical for preventing the abuse of the financial system...Strong public-private partnerships deform the bedrock for safeguarding the integrity of the financial system. In India, we recognise the importance of closed cooperation between the public and the private sector stakeholders in achieving these goals,” said Sanjay Malhotra.
