The Reserve Bank on Wednesday announced the second cohort under the Regulatory Sandbox (RS) with the theme of Cross Border Payments and also reduced net-worth requirement for entities interested in participating. Regulatory sandbox refers to live testing of new products or services in a controlled/test regulatory environment for which regulators may permit certain relaxations for the limited purpose of the testing. The RS allows the regulator, innovators, financial service providers and customers to conduct field tests to collect evidence on the benefits and risks of new products and systems. The central bank had announced opening of the first cohort under RS with the theme of Retail Payments .
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RBI announces 2nd cohort under regulatory sandbox with theme of cross border payments
The central bank had announced opening of the first cohort under RS with the theme of Retail Payments . PTI
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The Reserve Bank on Wednesday announced the second cohort under the Regulatory Sandbox (RS) with the theme of Cross Border Payments and also reduced net-worth requirement for entities interested in participating. Regulatory sandbox refers to live testing of new products or services in a controlled/test regulatory environment for which regulators may permit certain relaxations for the limited purpose of the testing.
The RS allows the regulator, innovators, financial service providers and customers to conduct field tests to collect evidence on the benefits and risks of new products and systems. The central bank had announced opening of the first cohort under RS with the theme of Retail Payments .