RBI Policy
Proposes theme-neutral, on-tap regulatory sandbox
This story was originally published at 11:51 IST on 9 April 2025
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--RBI Malhotra: Regulatory sandbox to be theme-neutral, on-tap
MUMBAI – At the conclusion of the three-day meeting of the Monetary Policy Committee on Wednesday, Reserve Bank of India Governor Sanjay Malhotra proposed to make the regulartory sandbox theme-neutral and on-tap. Directions on the impelementation of the announced measure would be issued separately, Malhotra said.
"A fifth 'Theme Neutral' cohort with a specified time window for receiving applications was also announced in October 2023 (Oct. 2023), which will close in May 2025," the RBI said in a press release. "Under this cohort, any innovative product or solution within the regulatory ambit of RBI could be tested if found eligible. Based on the experience gained and feedback received from stakeholders, it is now proposed to make the Regulatory Sandbox 'Theme Neutral' and 'On Tap'." The on-tap application facility for themes of closed cohorts was announced in October 2021.
The RBI's regulatory sandbox allows fintech companies to test new products in a controlled environment. This initiative has facilitated various innovations. The central bank has been operating the regulatory sandbox framework since 2019 and so far, four specific thematic cohorts have been completed. This initiative is expected to support continuous innovation and help in keeping pace with the rapidly evolving financial technology regulatory landscape. End
Reported by Siddhi Chauhan
Edited by Avishek Dutta
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