Reserve Bank of India launches innovation hub

The Reserve Bank of India launched a new innovation hub on March 24, saying it aims to boost innovation in the financial sector.

The wholly owned subsidiary of the RBI will mentor selected fintech start-up firms, governor Shaktikanta Das said in a speech inaugurating the hub.

When the RBI first announced the creation of the hub, in August 2020, the central bank said it would be focused on promoting financial inclusion.

Das emphasised this aspect, saying the hub should “showcase India’s

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