Table of Contents Chapter I – Preliminary Chapter II – FinTech SRO – Characteristics and Operations Chapter III – FinTech SRO – Eligibility and Membership.. Chapter IV – FinTech SRO – Functions and Responsibilities Chapter V – FinTech SRO – Governance and Management Chapter I – Preliminary Introduction Technological innovations are reshaping the financial services landscape, with FinTechs emerging as both disruptors and facilitators. FinTechs encompass diverse entities in terms of constitution, size, activities, domains, etc., all subject to constant flux and evolution. FinTechs play a pivotal role in redefining financial services by saving time, enhancing access, and lowering costs. For the purpose of membership of an SRO-FT under this framework, FinTechs may be defined as entities that provide technological solutions for delivery of financial products and services to businesses and consumers or encompass regulatory and supervisory compliance in partnership with traditional financial institutions or otherwise. This definition may be taken as a broad guidance for deciding on membership eligibility.

Contents 1. Background 2. The Regulatory Sandbox: Principles and Objectives 3. Regulatory Sandbox: Benefits 4. Regulatory Sandbox: Risks and Limitations 5. Regulatory Sandbox: Eligibility Criteria 6. Design Aspects of the Regulatory Sandbox 7. The Regulatory Sandbox Process and its Stages 8. Statutory and Legal Issues 9. Transparency and Disclosure 1. Background 1.1 The Reserve Bank of India (RBI) set up an inter-regulatory Working Group (WG) in