RBI proposes regulatory sandbox in bid to grow fintech sector
Draft proposal would enable 10–12 companies to operate without usual regulations
The Reserve Bank of India (RBI) has become the latest central bank to propose a regulatory sandbox, which would allow firms to test new fintech products with lighter regulations.
The central bank published a draft proposal on April 18, outlining plans to allow 10–12 companies to beta-test new products on a limited number of customers. The proposal came after the RBI set up an inter-regulatory working group in 2016 to suggest new ways for the country to respond to and encourage the growth of
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