New Delhi, April 20 -- The Reserve Bank of India has released the draft Enabling Framework for Regulatory Sandbox for stakeholders feedback.
In a notification, RBI said Comments on the draft guidelines are invited from stakeholders by May 08, 2019.
According to the draft, the sandbox will allow the regulator, the innovators, the financial service providers (as potential deployers of the technology) and the customers (as final users) to conduct field tests to collect evidence on the benefits and risks of new financial innovations, while carefully monitoring and containing their risks.
Areas that can potentially get a thrust from the regulatory sandbox include microfinance, innovative small savings and micro-insurance products, remittan...