The Reserve Bank of India (RBI) has cautioned that Big Tech companies that can quickly become "too big to fail" and dominate markets, could present significant challenges in assessing risk profiles due to their unique characteristics, extensive group entities, interconnected activities, and transnational presence.
The RBI's Currency and Finance Report for 2023-24, which RESERY BANK OF was released on Monday, said that there could be adverse economic and welfare outcomes with collection of extensive data by Big Techs, which they can utilise to favour their own products.
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