RBI proposes regulatory sandbox in bid to grow fintech sector

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The Reserve Bank of India (RBI) has become the latest central bank to propose a regulatory sandbox, which would allow firms to test new fintech products with lighter regulations.

The central bank published a draft proposal on April 18, outlining plans to allow 10–12 companies to beta-test new products on a limited number of customers. The proposal came after the RBI set up an inter-regulatory working group in 2016 to suggest new ways for the country to respond to and encourage the growth of

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