APRA chief Wayne Byres urged a "principles-based" regulatory approach to new technology companies and developments, as the nation's top regulators confront policy to encourage competition and maintain security. "It's inevitable the regulatory framework is going to have to evolve," Byres told a CPA Australia event in Sydney on Wednesday and reported by The Australian. "It would be very dangerous, I think, for any of us to try and pick the technology that will win … rather that's the job of the private sector. What that means is the regulatory framework is probably going to inevitably end up more principles-based because it can't have the same prescription maybe it had in the past." The asset quality and capitalisation of India's banking sector will "remain under pressure in fiscal 2017," Standard & Poor's said yesterday. S&P said it anticipated that "the nonperforming loan ratios of banks with high exposure to companies in sectors facing difficulties will continue to rise, and banks with a backlog of provisions will face heightened credit costs."