Blindly adopting tech could be counterproductive: RBI Executive Director

The Executive Director of the Reserve Bank of India (RBI), Ajay Choudhary, said that the financial sector "blindly" adopting latest technologies without understanding the biases could be counterproductive. "RBI’s focus area is innovation, while innovations are desirable they also need to be responsible," he added. Choudhary said that the risks posed by new innovations should be well understood.