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Press Releases
ਅਗ 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
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ਮਈ 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
ਮਈ 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
ਫ਼ਰ 14, 2023
Reserve Bank of India launches its Second Global Hackathon - HARBINGER 2023
Reserve Bank is organising its second global hackathon – “HARBINGER 2023 – Innovation for Transformation” with the theme ‘Inclusive Digital Services’. The Hackathon invites participants to develop solutions that have the potential to make digital financial services accessible to the differently abled, facilitate efficient compliance, extend the reach of Central Bank Digital Currencies and enhance the scalability of blockchains. HARBINGER 2023 invites innovative ideas
Reserve Bank is organising its second global hackathon – “HARBINGER 2023 – Innovation for Transformation” with the theme ‘Inclusive Digital Services’. The Hackathon invites participants to develop solutions that have the potential to make digital financial services accessible to the differently abled, facilitate efficient compliance, extend the reach of Central Bank Digital Currencies and enhance the scalability of blockchains. HARBINGER 2023 invites innovative ideas
ਜਨ 05, 2023
Regulatory Sandbox (RS) - Fourth Cohort on Prevention and Mitigation of Financial Frauds - Test Phase
The Reserve Bank had announced opening of the Fourth Cohort under Regulatory Sandbox vide Press release dated June 06, 2022 for theme ‘Prevention and Mitigation of Financial Frauds’. 2. The Reserve Bank received nine applications of which six have been selected for the ‘Test Phase’. The entities, as per details below, shall commence testing of their products from February 2023. Sl. No. Sandbox Entity Description 1 Bahwan Cybertek Private Limited The solution ‘rt360 Re
The Reserve Bank had announced opening of the Fourth Cohort under Regulatory Sandbox vide Press release dated June 06, 2022 for theme ‘Prevention and Mitigation of Financial Frauds’. 2. The Reserve Bank received nine applications of which six have been selected for the ‘Test Phase’. The entities, as per details below, shall commence testing of their products from February 2023. Sl. No. Sandbox Entity Description 1 Bahwan Cybertek Private Limited The solution ‘rt360 Re
ਦਸੰ 14, 2022
RBI Governor interacts with FinTechs and Industry Associations
Shri Shaktikanta Das, Governor, Reserve Bank of India, held a meeting with select FinTech entities (including AgriTechs) and some of their Associations on December 14, 2022. The meeting was also attended by Shri M. K. Jain, Deputy Governor, along with a few senior officials of the RBI. In his introductory remarks, the Governor stated that FinTech initiatives and start-ups are important segments of aspirational India. They are playing a transformative role in the finan
Shri Shaktikanta Das, Governor, Reserve Bank of India, held a meeting with select FinTech entities (including AgriTechs) and some of their Associations on December 14, 2022. The meeting was also attended by Shri M. K. Jain, Deputy Governor, along with a few senior officials of the RBI. In his introductory remarks, the Governor stated that FinTech initiatives and start-ups are important segments of aspirational India. They are playing a transformative role in the finan
ਨਵੰ 29, 2022
Operationalisation of Central Bank Digital Currency - Retail (e₹-R) Pilot
The Reserve Bank announces the launch of the first pilot for retail digital Rupee (e₹-R) on December 01, 2022. It may be recalled that RBI had, in a Press Release dated October 31, 2022, indicated that the pilot in e₹-R would commence in a month’s time. 2. The pilot would cover select locations in closed user group (CUG) comprising participating customers and merchants. The e₹-R would be in the form of a digital token that represents legal tender. It would be issued i
The Reserve Bank announces the launch of the first pilot for retail digital Rupee (e₹-R) on December 01, 2022. It may be recalled that RBI had, in a Press Release dated October 31, 2022, indicated that the pilot in e₹-R would commence in a month’s time. 2. The pilot would cover select locations in closed user group (CUG) comprising participating customers and merchants. The e₹-R would be in the form of a digital token that represents legal tender. It would be issued i
ਅਕਤੂ 31, 2022
Operationalisation of Central Bank Digital Currency-Wholesale (e₹-W) Pilot
RBI vide Press Release dated October 7, 2022 had announced that the Reserve Bank will soon commence pilot launches of Digital Rupee (e₹) for specific use cases. Accordingly, the first pilot in the Digital Rupee - Wholesale segment (e₹-W) shall commence on November 1, 2022. 2. The use case for this pilot is settlement of secondary market transactions in government securities. Use of e₹-W is expected to make the inter-bank market more efficient. Settlement in central ba
RBI vide Press Release dated October 7, 2022 had announced that the Reserve Bank will soon commence pilot launches of Digital Rupee (e₹) for specific use cases. Accordingly, the first pilot in the Digital Rupee - Wholesale segment (e₹-W) shall commence on November 1, 2022. 2. The use case for this pilot is settlement of secondary market transactions in government securities. Use of e₹-W is expected to make the inter-bank market more efficient. Settlement in central ba
ਅਕਤੂ 12, 2022
Standard Operating Procedure for Inter-operable Regulatory Sandbox
An Inter-Regulatory Technical Group on FinTech (IRTG on FinTech) had been constituted under the aegis of the Financial Stability and Development Council - Sub Committee (FSDC-SC). The terms of reference (ToR) of IRTG on FinTech include discussion on issues relating to hybrid product/service falling under the regulatory ambit of different financial sector regulators for admission in Regulatory Sandbox (RS) and framing of Standard Operating Procedure (SOP) for Inter-ope
An Inter-Regulatory Technical Group on FinTech (IRTG on FinTech) had been constituted under the aegis of the Financial Stability and Development Council - Sub Committee (FSDC-SC). The terms of reference (ToR) of IRTG on FinTech include discussion on issues relating to hybrid product/service falling under the regulatory ambit of different financial sector regulators for admission in Regulatory Sandbox (RS) and framing of Standard Operating Procedure (SOP) for Inter-ope
ਅਕਤੂ 07, 2022
Issuance of Concept Note on Central Bank Digital Currency
The Reserve Bank of India has today released a Concept Note on Central Bank Digital Currency (CBDC) for India. The purpose behind the issue of this Concept Note is to create awareness about CBDCs in general and the planned features of the Digital Rupee (e₹), in particular. It explains the objectives, choices, benefits, and risks of issuing a CBDC in India. The Note also seeks to explain Reserve Bank’s approach towards introduction of the CBDC. The Concept Note also di
The Reserve Bank of India has today released a Concept Note on Central Bank Digital Currency (CBDC) for India. The purpose behind the issue of this Concept Note is to create awareness about CBDCs in general and the planned features of the Digital Rupee (e₹), in particular. It explains the objectives, choices, benefits, and risks of issuing a CBDC in India. The Note also seeks to explain Reserve Bank’s approach towards introduction of the CBDC. The Concept Note also di
ਸਤੰ 05, 2022
Regulatory Sandbox - Fifth Cohort Announcement and Opening of ‘On Tap’ application for Second Cohort on ‘Cross Border Payments’
Based upon the feedback received from various stakeholders, and in order to foster continuous innovation in various areas pertaining to fintech as well as to provide testing platform to the different products/ services/ technology which fall under the domain of the Reserve Bank as indicated in para 6.1.3 of the Enabling Framework for Regulatory Sandbox, it is announced that the Fifth Cohort under Regulatory Sandbox will be theme neutral. Innovative products/ services/
Based upon the feedback received from various stakeholders, and in order to foster continuous innovation in various areas pertaining to fintech as well as to provide testing platform to the different products/ services/ technology which fall under the domain of the Reserve Bank as indicated in para 6.1.3 of the Enabling Framework for Regulatory Sandbox, it is announced that the Fifth Cohort under Regulatory Sandbox will be theme neutral. Innovative products/ services/
ਸਤੰ 05, 2022
Regulatory Sandbox: ‘On Tap’ application facility for theme ‘Retail Payments’ - Shortlisting of entities
The Reserve Bank had announced opening of the ‘On Tap’ application facility for the theme ‘Retail Payments’ under Regulatory Sandbox vide Press release dated October 08, 2021. 2. In this regard, it is informed that the below mentioned two entities have been selected for the ‘Test Phase’: Sl. No. Sandbox Entity Product Description 1 HDFC Bank (in partnership with Crunchfish AB1) The product ‘Offline Retail Payments’ provides capability for customer and merchants to be
The Reserve Bank had announced opening of the ‘On Tap’ application facility for the theme ‘Retail Payments’ under Regulatory Sandbox vide Press release dated October 08, 2021. 2. In this regard, it is informed that the below mentioned two entities have been selected for the ‘Test Phase’: Sl. No. Sandbox Entity Product Description 1 HDFC Bank (in partnership with Crunchfish AB1) The product ‘Offline Retail Payments’ provides capability for customer and merchants to be
ਸਤੰ 02, 2022
Digitalisation of Rural Finance in India - Pilot for Kisan Credit Card (KCC) Lending developed by the Reserve Bank Innovation Hub
Rural finance encompasses a range of financial services offered to rural customers, including farmers, at all income levels. In a country like India, rural credit is closely related to inclusive economic growth, as it caters to the requirements of agriculture and allied activities, ancillary industries, small businesses, etc. At present, the process for getting such finance requires customer to visit a bank branch in-person along with the proof of land ownership and o
Rural finance encompasses a range of financial services offered to rural customers, including farmers, at all income levels. In a country like India, rural credit is closely related to inclusive economic growth, as it caters to the requirements of agriculture and allied activities, ancillary industries, small businesses, etc. At present, the process for getting such finance requires customer to visit a bank branch in-person along with the proof of land ownership and o
ਜੁਲਾ 19, 2022
Regulatory Sandbox (RS): Second Cohort on ‘Cross-Border Payments’ - Exit
In the Second Cohort under the Regulatory Sandbox (RS) with ‘Cross-Border Payments’ as its theme, eight entities commenced testing of their products which was communicated vide Press Release dated September 13, 2021. 2. The following four entities have completed the ‘Test Phase’. Sl. No. Sandbox Entity Description 1 Cashfree Payments India Private Limited The product extends a cross-border payment platform to facilitate the purchase of assets listed on foreign exchang
In the Second Cohort under the Regulatory Sandbox (RS) with ‘Cross-Border Payments’ as its theme, eight entities commenced testing of their products which was communicated vide Press Release dated September 13, 2021. 2. The following four entities have completed the ‘Test Phase’. Sl. No. Sandbox Entity Description 1 Cashfree Payments India Private Limited The product extends a cross-border payment platform to facilitate the purchase of assets listed on foreign exchang
ਜੂਨ 06, 2022
Reserve Bank Announces Opening of Fourth Cohort under the Regulatory Sandbox
The Reserve Bank had announced the theme for the Fourth Cohort under the Regulatory Sandbox (RS) as ‘Prevention and Mitigation of Financial Frauds’ vide Press Release dated October 08, 2021. It now announces opening of application window for the Fourth Cohort to eligible entities. 2. The application for the Fourth Cohort may be submitted from June 15, 2022 to August 01, 2022. A scanned copy of the application together with enclosures (maximum size 10 MB), may be forwa
The Reserve Bank had announced the theme for the Fourth Cohort under the Regulatory Sandbox (RS) as ‘Prevention and Mitigation of Financial Frauds’ vide Press Release dated October 08, 2021. It now announces opening of application window for the Fourth Cohort to eligible entities. 2. The application for the Fourth Cohort may be submitted from June 15, 2022 to August 01, 2022. A scanned copy of the application together with enclosures (maximum size 10 MB), may be forwa
ਜੂਨ 06, 2022
Regulatory Sandbox (RS) - Third Cohort on MSME Lending - Test Phase
The Reserve Bank had announced opening of the Third Cohort under Regulatory Sandbox vide Press release dated September 13, 2021 for MSME Lending. The Reserve Bank received 22 applications of which eight entities have been selected for the ‘Test Phase’. The entities, as per details below, shall commence testing of their products in June 2022. Sl. No. Sandbox Entity Description 1 FinAGG Technologies Private Limited The product ‘Quick Cash Flow’ is a cash flow based digi
The Reserve Bank had announced opening of the Third Cohort under Regulatory Sandbox vide Press release dated September 13, 2021 for MSME Lending. The Reserve Bank received 22 applications of which eight entities have been selected for the ‘Test Phase’. The entities, as per details below, shall commence testing of their products in June 2022. Sl. No. Sandbox Entity Description 1 FinAGG Technologies Private Limited The product ‘Quick Cash Flow’ is a cash flow based digi
ਜੂਨ 02, 2022
RBI announces results of its First Global Hackathon - HARBINGER 2021
The Reserve Bank had launched its first global hackathon - “HARBINGER 2021 – Innovation for Transformation” with the theme ‘Smarter Digital Payments’ which was communicated vide Press Release dated November 09, 2021. The hackathon received encouraging response with 363 proposals submitted by teams from within India and from 22 other countries including the USA, UK, Sweden, Singapore, Philippines, and Israel. The Hackathon ran in three phases with shortlisting of propo
The Reserve Bank had launched its first global hackathon - “HARBINGER 2021 – Innovation for Transformation” with the theme ‘Smarter Digital Payments’ which was communicated vide Press Release dated November 09, 2021. The hackathon received encouraging response with 363 proposals submitted by teams from within India and from 22 other countries including the USA, UK, Sweden, Singapore, Philippines, and Israel. The Hackathon ran in three phases with shortlisting of propo
ਮਾਰਚ 24, 2022
Inauguration of the Reserve Bank Innovation Hub
The Governor, Reserve Bank of India (RBI), Shri Shaktikanta Das inaugurated the Reserve Bank Innovation Hub (RBIH) today (March 24, 2022) in Bengaluru. The RBI has set up the RBIH as a Section 8 company under Companies Act, 2013, with an initial capital contribution of ₹100 crore to encourage and nurture financial innovation in a sustainable manner through an institutional set-up. The Hub has an independent Board with Shri Senapathy (Kris) Gopalakrishnan as the Chairm
The Governor, Reserve Bank of India (RBI), Shri Shaktikanta Das inaugurated the Reserve Bank Innovation Hub (RBIH) today (March 24, 2022) in Bengaluru. The RBI has set up the RBIH as a Section 8 company under Companies Act, 2013, with an initial capital contribution of ₹100 crore to encourage and nurture financial innovation in a sustainable manner through an institutional set-up. The Hub has an independent Board with Shri Senapathy (Kris) Gopalakrishnan as the Chairm
ਨਵੰ 09, 2021
RBI launches its First Global Hackathon - HARBINGER 2021
Reserve Bank is organising its first global hackathon – “HARBINGER 2021 – Innovation for Transformation” with the theme ‘Smarter Digital Payments’. The Hackathon invites participants to identify and develop solutions that have the potential to make digital payments accessible to the under-served, enhance the ease of payments and user experience, while strengthening the security of digital payments and promoting customer protection. HARBINGER 2021 invites innovative id
Reserve Bank is organising its first global hackathon – “HARBINGER 2021 – Innovation for Transformation” with the theme ‘Smarter Digital Payments’. The Hackathon invites participants to identify and develop solutions that have the potential to make digital payments accessible to the under-served, enhance the ease of payments and user experience, while strengthening the security of digital payments and promoting customer protection. HARBINGER 2021 invites innovative id
ਅਕਤੂ 08, 2021
Regulatory Sandbox - Announcement of Theme for Fourth Cohort and Review of Enabling Framework
The Reserve Bank has undertaken various initiatives to realise India’s vision on payment systems by fostering an ecosystem that enables safe, quick and affordable digital payments. In this context, one of the challenges has been to minimise instances of financial frauds, which not only lead to apprehension among new users in adoption of digital payments but also make it difficult for the banks to retain customers who experience such frauds. There is also a lag between
The Reserve Bank has undertaken various initiatives to realise India’s vision on payment systems by fostering an ecosystem that enables safe, quick and affordable digital payments. In this context, one of the challenges has been to minimise instances of financial frauds, which not only lead to apprehension among new users in adoption of digital payments but also make it difficult for the banks to retain customers who experience such frauds. There is also a lag between
ਸਤੰ 13, 2021
Reserve Bank Announces Opening of Third Cohort under the Regulatory Sandbox
The Reserve Bank had announced the theme for the Third Cohort under the Regulatory Sandbox (RS) as ‘MSME Lending’ vide Press Release dated December 16, 2020. It now announces opening of application window for the Third Cohort to eligible entities. 2. The application for the Third Cohort may be submitted from October 01, 2021 to November 14, 2021. A scanned copy of the application, together with enclosures (maximum size 10 MB), may be forwarded through email. (Yogesh D
The Reserve Bank had announced the theme for the Third Cohort under the Regulatory Sandbox (RS) as ‘MSME Lending’ vide Press Release dated December 16, 2020. It now announces opening of application window for the Third Cohort to eligible entities. 2. The application for the Third Cohort may be submitted from October 01, 2021 to November 14, 2021. A scanned copy of the application, together with enclosures (maximum size 10 MB), may be forwarded through email. (Yogesh D
ਸਤੰ 13, 2021
Regulatory Sandbox (RS): First Cohort on ‘Retail Payments’ - Exit
In the First Cohort under the Regulatory Sandbox with ‘Retail Payments’ as its theme, six entities commenced testing of their products which was communicated vide Press Release dated November 17 and December 24, 2020. 2. The following six entities have completed the ‘Test Phase’. Sl. No. Name of the Sandbox Entity Description of the product (i) Nucleus Software Exports Ltd. (PaySe) PaySe is an offline digital cash product which proposes to help in digitisation of paym
In the First Cohort under the Regulatory Sandbox with ‘Retail Payments’ as its theme, six entities commenced testing of their products which was communicated vide Press Release dated November 17 and December 24, 2020. 2. The following six entities have completed the ‘Test Phase’. Sl. No. Name of the Sandbox Entity Description of the product (i) Nucleus Software Exports Ltd. (PaySe) PaySe is an offline digital cash product which proposes to help in digitisation of paym
ਸਤੰ 13, 2021
Regulatory Sandbox (RS): Second Cohort on Cross Border Payments - Test Phase
The Reserve Bank had announced opening of the Second Cohort under Regulatory Sandbox vide Press release dated December 16, 2020 for Cross Border Payments. The Reserve Bank received 27 applications from 26 entities of which eight entities have been selected for the ‘Test Phase’. The entities, as per details below, shall commence testing of their products from the third week of September 2021. Sr. No. Sandbox Entity Description 1 Book My Forex Private Limited The produc
The Reserve Bank had announced opening of the Second Cohort under Regulatory Sandbox vide Press release dated December 16, 2020 for Cross Border Payments. The Reserve Bank received 27 applications from 26 entities of which eight entities have been selected for the ‘Test Phase’. The entities, as per details below, shall commence testing of their products from the third week of September 2021. Sr. No. Sandbox Entity Description 1 Book My Forex Private Limited The produc
ਦਸੰ 24, 2020
Regulatory Sandbox (RS) - First Cohort on Retail Payments - Test Phase
Under the first cohort of Regulatory Sandbox (RS), two entities commenced testing of their products from November 16, 2020, which was communicated vide Press Release dated November 17, 2020. Remaining four entities selected for the ‘Test Phase’, have started testing of their products as per details below: Sr. No. Sandbox Entity Description 1 Tap Smart Data Information Services Private Ltd. (CityCash) Mumbai The product is a set of Near-Field Communication (NFC) based
Under the first cohort of Regulatory Sandbox (RS), two entities commenced testing of their products from November 16, 2020, which was communicated vide Press Release dated November 17, 2020. Remaining four entities selected for the ‘Test Phase’, have started testing of their products as per details below: Sr. No. Sandbox Entity Description 1 Tap Smart Data Information Services Private Ltd. (CityCash) Mumbai The product is a set of Near-Field Communication (NFC) based
ਦਸੰ 16, 2020
Reserve Bank announces opening of Second Cohort under the Regulatory Sandbox
Post announcement of commencement of Test Phase under the First Cohort on Retail Payments vide Press Release dated November 17, 2020, the Reserve Bank now announces opening of Second Cohort under the Regulatory Sandbox (RS) with ‘Cross Border Payments,’ as its theme. 2. India is the largest recipient of inbound remittances across the globe accounting for 15% of global share; in the year 2019, India received $83 bn and in the first half year of 2020, has received $27.4
Post announcement of commencement of Test Phase under the First Cohort on Retail Payments vide Press Release dated November 17, 2020, the Reserve Bank now announces opening of Second Cohort under the Regulatory Sandbox (RS) with ‘Cross Border Payments,’ as its theme. 2. India is the largest recipient of inbound remittances across the globe accounting for 15% of global share; in the year 2019, India received $83 bn and in the first half year of 2020, has received $27.4
ਨਵੰ 17, 2020
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 (Kri
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 (Kri
ਨਵੰ 17, 2020
Regulatory Sandbox (RS) - First cohort on Retail Payments - Test Phase
The Reserve Bank had announced opening of the first cohort under Regulatory Sandbox vide Press release dated November 04, 2019. The Reserve Bank received applications from 32 entities of which six have been selected for the ‘Test Phase’. The commencement of testing was delayed on account of the present COVID-19 situation. Two entities, as per details below, have started testing of their products from November 16, 2020. The remaining four are expected to start the test
The Reserve Bank had announced opening of the first cohort under Regulatory Sandbox vide Press release dated November 04, 2019. The Reserve Bank received applications from 32 entities of which six have been selected for the ‘Test Phase’. The commencement of testing was delayed on account of the present COVID-19 situation. Two entities, as per details below, have started testing of their products from November 16, 2020. The remaining four are expected to start the test
ਨਵੰ 04, 2019
Reserve Bank announces the opening of first cohort under the Regulatory Sandbox
The Reserve Bank announces the opening of first cohort under the Regulatory Sandbox. The Reserve Bank announces the opening of first cohort under the Regulatory Sandbox (RS) with ‘Retail Payments’, as its theme. The adoption of ‘Retail Payments’ as the theme is expected to spur innovation in digital payments space and help in offering payment services to the unserved and underserved segment of the population. Migration to digital modes of making a payment can obviate
The Reserve Bank announces the opening of first cohort under the Regulatory Sandbox. The Reserve Bank announces the opening of first cohort under the Regulatory Sandbox (RS) with ‘Retail Payments’, as its theme. The adoption of ‘Retail Payments’ as the theme is expected to spur innovation in digital payments space and help in offering payment services to the unserved and underserved segment of the population. Migration to digital modes of making a payment can obviate
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