Reserve Bank Innovation Hub - ആർബിഐ - Reserve Bank of India
Reserve Bank Innovation Hub
The Reserve Bank in its Monetary Policy Statement on Development and Regulatory Policies dated August 06, 2020, had announced that the Bank will set up Reserve Bank Innovation Hub (RBIH) to promote innovation across the financial sector by leveraging on technology and creating an environment which would facilitate and foster innovation. RBIH would be guided and managed by a Governing Council (GC) led by a Chairperson. The Reserve Bank has appointed Shri Senapathy (Kris) Gopalakrishnan, co-founder and former co-Chairman, Infosys, as the first Chairperson of the RBIH. Shri Gopalakrishnan is currently the Chief Mentor of Start-up Village, an incubation hub for start-ups. The other members of the Governing Council are as below –
The RBIH shall create an eco-system that would focus on promoting access to financial services and products. This will also promote financial inclusion. The Hub will collaborate with financial sector institutions, technology industry and academic institutions and coordinate efforts for exchange of ideas and development of prototypes related to financial innovations. It would develop internal infrastructure to promote fintech research and facilitate engagement with innovators and start-ups. (Yogesh Dayal) Press Release: 2020-2021/639 |