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Feb 28, 2024
Enabling Framework for Regulatory Sandbox

Reserve Bank of India today placed on its website the updated ‘Enabling Framework for Regulatory Sandbox’. The framework has been revised based on the experience gained over the last four and half years in running four cohorts and feedback received from FinTechs, banking partners and other stakeholders. Among others, the timelines of the various stages of the Regulatory Sandbox process have been revised from seven months to nine months. The updated framework also requires sandbox entities to ensure compliance with provisions of the Digital Personal Data Protection Act, 2023.

Reserve Bank of India today placed on its website the updated ‘Enabling Framework for Regulatory Sandbox’. The framework has been revised based on the experience gained over the last four and half years in running four cohorts and feedback received from FinTechs, banking partners and other stakeholders. Among others, the timelines of the various stages of the Regulatory Sandbox process have been revised from seven months to nine months. The updated framework also requires sandbox entities to ensure compliance with provisions of the Digital Personal Data Protection Act, 2023.

Jan 15, 2024
Draft Framework for recognising Self-Regulatory Organisations for FinTech Sector

FinTechs are significantly reshaping the landscape of financial services by streamlining processes, improving accessibility, and reducing costs. Achieving a healthy balance between facilitating innovation by the industry on the one hand, and meeting regulatory priorities in a manner that protects consumers and contains risk, on the other, is crucial to optimising the contribution of the FinTech sector.

FinTechs are significantly reshaping the landscape of financial services by streamlining processes, improving accessibility, and reducing costs. Achieving a healthy balance between facilitating innovation by the industry on the one hand, and meeting regulatory priorities in a manner that protects consumers and contains risk, on the other, is crucial to optimising the contribution of the FinTech sector.

Dec 11, 2023
Regulatory Sandbox: On Tap application on theme ‘Retail Payments’ – Completion of Test Phase

Under the ‘On Tap’ application facility for the theme ‘Retail Payments’ of the Regulatory Sandbox (RS), HDFC Bank (in partnership with Crunchfish AB) was selected for the Test Phase which was communicated vide Press Release dated September 05, 2022.

Under the ‘On Tap’ application facility for the theme ‘Retail Payments’ of the Regulatory Sandbox (RS), HDFC Bank (in partnership with Crunchfish AB) was selected for the Test Phase which was communicated vide Press Release dated September 05, 2022.

Oct 27, 2023
Regulatory Sandbox: Third Cohort on ‘MSME Lending’ – Exit

In the Third Cohort under the Regulatory Sandbox (RS) with ‘MSME Lending’ as its theme, eight entities were to commence testing of their products which was communicated vide Press Release dated June 06, 2022.
2. Products of the entities which completed the ‘Test Phase’ were evaluated based on mutually agreed test scenarios and expected outcomes. Accordingly, the five products outlined below have been found viable within the boundary conditions defined during testing under RS:

In the Third Cohort under the Regulatory Sandbox (RS) with ‘MSME Lending’ as its theme, eight entities were to commence testing of their products which was communicated vide Press Release dated June 06, 2022.
2. Products of the entities which completed the ‘Test Phase’ were evaluated based on mutually agreed test scenarios and expected outcomes. Accordingly, the five products outlined below have been found viable within the boundary conditions defined during testing under RS:

Oct 27, 2023
Regulatory Sandbox: Reserve Bank of India Announces Opening of Fifth Cohort

The Reserve Bank of India had announced vide Press Release dated September 5, 2022 that the Fifth Cohort under the Regulatory Sandbox (RS) will be theme neutral. It now announces opening of application window for the Fifth Cohort to eligible entities.

The Reserve Bank of India had announced vide Press Release dated September 5, 2022 that the Fifth Cohort under the Regulatory Sandbox (RS) will be theme neutral. It now announces opening of application window for the Fifth Cohort to eligible entities.

Oct 12, 2023
RBI announces results of second edition of its Global Hackathon – HARBINGER 2023

The Reserve Bank had launched the second edition of its global hackathon - “HARBINGER 2023 – Innovation for Transformation” with the theme ‘Inclusive Digital Services’ which was communicated vide Press Release dated February 14, 2023.

The Reserve Bank had launched the second edition of its global hackathon - “HARBINGER 2023 – Innovation for Transformation” with the theme ‘Inclusive Digital Services’ which was communicated vide Press Release dated February 14, 2023.

Sep 04, 2023
Reserve Bank of India and Bank for International Settlements announce winners of G20 TechSprint 2023

Under India’s G20 Presidency, RBI and BIS Innovation Hub (BISIH) of the Bank for International Settlements had launched the fourth edition of the G20 TechSprint on May 4, 2023 and invited global innovators to help develop technology solutions for cross-border payments.

Under India’s G20 Presidency, RBI and BIS Innovation Hub (BISIH) of the Bank for International Settlements had launched the fourth edition of the G20 TechSprint on May 4, 2023 and invited global innovators to help develop technology solutions for cross-border payments.

Aug 14, 2023
Reserve Bank of India to Launch the Pilot Project for Public Tech Platform for Frictionless Credit
As part of the Statement on Developmental and Regulatory Policies released on August 10, 2023, Reserve Bank of India (RBI) has announced the development of a Public Tech Platform for Frictionless Credit. The Platform is being developed by Reserve Bank Innovation Hub (RBIH), a wholly owned subsidiary of RBI. 2. With rapid progress in digitalization, India has embraced the concept of digital public infrastructure which encourages banks, NBFCs, FinTech companies and star
As part of the Statement on Developmental and Regulatory Policies released on August 10, 2023, Reserve Bank of India (RBI) has announced the development of a Public Tech Platform for Frictionless Credit. The Platform is being developed by Reserve Bank Innovation Hub (RBIH), a wholly owned subsidiary of RBI. 2. With rapid progress in digitalization, India has embraced the concept of digital public infrastructure which encourages banks, NBFCs, FinTech companies and star
May 11, 2023
Reserve Bank of India in collaboration with the GFIN invites firms to participate in Greenwashing TechSprint
The Reserve Bank of India will be among 13 international regulators taking part in the Global Financial Innovation Network (GFIN)’s first ever Greenwashing TechSprint. GFIN is a group of over 80 international organisations committed to supporting financial innovation in the interest of consumers and it is currently chaired by the Financial Conduct Authority. RBI as a participating member is inviting firms from India to participate in this Greenwashing TechSprint. The
The Reserve Bank of India will be among 13 international regulators taking part in the Global Financial Innovation Network (GFIN)’s first ever Greenwashing TechSprint. GFIN is a group of over 80 international organisations committed to supporting financial innovation in the interest of consumers and it is currently chaired by the Financial Conduct Authority. RBI as a participating member is inviting firms from India to participate in this Greenwashing TechSprint. The
May 04, 2023
Reserve Bank of India and Bank for International Settlements launch G20 TechSprint 2023
Under India’s G20 Presidency, the RBI and the BIS Innovation Hub (BISIH) of the Bank for International Settlements have jointly launched the fourth edition of the G20 TechSprint, a global technology competition to promote innovative solutions aimed at improving cross-border payments. RBI and BIS invite global innovators to help develop innovative technology solutions for cross-border payments. The competition is open to developers from around the world for submitting
Under India’s G20 Presidency, the RBI and the BIS Innovation Hub (BISIH) of the Bank for International Settlements have jointly launched the fourth edition of the G20 TechSprint, a global technology competition to promote innovative solutions aimed at improving cross-border payments. RBI and BIS invite global innovators to help develop innovative technology solutions for cross-border payments. The competition is open to developers from around the world for submitting

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Page Last Updated on: April 16, 2024