Reserve Bank of India Deputy Governors Shirish Chandra Murmu and Swaminathan J have warned that rapid digitalization is compressing the time regulators have to respond to financial risks. They highlighted challenges including fast-evolving technologies outpacing traditional processes, blurring regulatory boundaries, and fragmented oversight. The officials stressed the need for more agile, proactive supervision and fundamentally rethinking how stability, governance, and customer protection are ensured in a technology-driven environment, as risks can now materialize within hours.