Live
- Mega brother’s mother Anjana Devi unveils promising teaser of RK Sagar’s ‘The 100’
- "Vasupalli Ganesh Inaugurates 33rd Ward YCP Party Office
- ‘Family Star’ heads to OTT: This Vijay Deverakonda starrer makes digital debut
- Tamannaah Bhatia join the sets of ‘Odela 2’
- Swift CID investigation to ensure severe punishment to the accused: CM
- Mysore hotels offer discounts, freebies to boost voter turnout
- Did Rashmika Mandanna Double Her Paycheque?
- BJP needs only 399 more seats to reach 400 mark says Gujarat CM M Bhupendrabhai Patel
- OnePlus 8 and 8 Pro Conclude Software Update Cycle: Find Details
- Google Integrates Keep Reminders into Tasks for Enhanced Productivity
RBI to issue norms in 2 months: Das
New Delhi: To promote innovation in FinTech space, the central bank will issue guidelines for regulatory sandbox in the next two months, RBI Governor...
New Delhi: To promote innovation in FinTech space, the central bank will issue guidelines for regulatory sandbox in the next two months, RBI Governor Shaktikanta Das said on Monday.
A regulatory sandbox is a framework set up by a regulator that allows FinTech startups to conduct live experiments in a controlled environment under supervision.
"A 'Regulatory Sandbox' would benefit FinTech companies by way of reduced time to launch innovative products at a lower cost. Going forward, the Reserve Bank will set up a regulatory sandbox, for which guidelines will be issued in the next two months," he said at an event organised by NITI Aayog here.
The RBI's working group on FinTech and digital banking in November 2017, had suggested the introduction of a regulatory sandbox/innovation hub within a well-defined space and duration to experiment with FinTech solutions, where the consequences of failure can be contained and reasons for failure analysed.
Observing that FinTech has the potential to reshape the financial services and financial inclusion landscape in India in fundamental ways, he said, it can reduce costs and improve access and quality of financial services.
