INSUBCONTINENT EXCLUSIVE:
majority of fintech players, even as some have suggested a few tweaks in order to make it even more comprehensive.
The draft was released
for stakeholder comments on Thursday.
Incidentally, an RS is a controlled environment for commercial testing of new technology with limited
regulations and customer exposure.
The RBI draft is based on recommendations from an inter-regulatory committee headed by a former executive
director of RBI, Sudarshan Sen
sandboxes have been used in most advanced economies to test the commercial viability and regulatory scope of any new technology
Even while this method has been used by some major banks in India before, a major regulator testing it would be hugely beneficial for the
have widened the scope of innovations
suitable solutions in avenues such as payments interface, data analytics and blockchain
said Anurag Jain, CEO, Kred X, a digital invoice discounting company.
