The Reserve Bank of India (RBI) recently published their draft framework for a fintech regulatory sandbox; this will enable Indian fintech companies to test their new products in a controlled environment; RBI sees this as a tool to promote financial inclusion; fintech companies expect this sandbox will address key challenges they face when dealing with India’s legacy regulatory infrastructure; “A regulatory sandbox has the potential to encourage rapid innovation in a responsible manner and enable India to take its next big leap towards financial inclusion.” Source.
