Author: Subrata Panda

While widespread adoption of digital payments has facilitated rapid, low-cost transactions and easy withdrawals through banking and mobile apps, it has also heightened risks to operational stability, requiring continuous investments in IT systems and technology to handle peak loads effectively, said Swaminathan J, deputy governor, Reserve Bank of India (RBI), on Wednesday.Speaking at the conference of the International Association of Deposit Insurers, the deputy governor highlighted that the 24/7 availability of online and mobile banking can increase vulnerabilities, potentially accelerating bank runs and liquidity crises during periods of stress, as customers may withdraw funds even outside of traditional banking hours…