india against financial services businesses had increased by 89 per cent. globally, financial services fraud attempts increased 149 per cent. clearly, both regulators and other stakeholders have to play their respective roles effectively to ensure that innovation in the fintech space continues to support india ’ s economic growth. 20. to sum up, the fintech landscape can be described in dickensian terms – we are in the best of times, with the promise of technological innovation in finance and hope of substantial efficiency gains, better customer experience and greater social welfare. but we also need to deal with threats of online frauds, compromise of customer credentials and data privacy and safety for the spring of hope not to turn into the winter of despair. 1 1 www. transunion. in / blog / fraud - trends - q2 - 2021 4 / 4 bis central bankers'speeches

finance curricula in the universities. so far, basically everyone within the central banking community involved with climate has had to study the issue for themselves. without proper and widespread analytical capabilities it will be impossible to make sure financial questions related to climate change get the attention they deserve. it is not enough that authorities and financial institutions have the capabilities. non - financial corporations also need to have at least a basic understanding in order to be able to determine the investments needed for their own transition to climate neutrality. given the time horizon to meet our climate goals, it is imperative that the knowhow and capabilities are developed quickly. and coming to the solutions, my first proposal would be to more actively try to find new data 1 / 2 bis central bankers'speeches sources and combine different datasets. this work is underway, and many non - traditional datasets have already been found, but it is safe to assume a lot more can be done in this regard. furthermore, we need to relax our assumptions about the extent to which we can rely on official statistics and accounting. even if approved, it will take years until we have adequate environmental accounting on which to rely. we need something in the meantime. perhaps machine learning, ai and data mining can be useful ways of decoding qualitative and text - based information into metrics that we can use in our analysis. as we compile datasets covering future decades, it becomes apparent that our traditional methodologies and assumptions are inadequate. we need to have a better grasp of scenario analysis methodologies to be able to include climate and relevant long - term possible futures in traditional economic analysis. this requires us to work even more with experts from outside our own field. and all this leads to the second solution, which relates to the need to build analytical capacity and understanding. for this we need people who can teach others. the central banks and supervisors ’ network for greening the financial system, or ngfs for short, and others are already building their own training programmes. but we need more. a lot of interdisciplinary cooperation is needed to build the relevant capabilities. we are already seeing more collaborative action between climate scientists and financial analysts, which helps in finding new ways to do things. similarly, this cooperation enables us to use metrics and approaches originally developed for other purposes. the ngfs scenarios are a prime example of this. it is my hope that academia, too, will acknowledge its role in this. thus far, sustainable finance has not been an integral