RBI FinTech Regulatory Sandbox – Selection Criteria & Consumer Protection

Introduction

The FinTech (startups) market of India is poised to elevate competition for the conventional banking players following the recent release of the draft Regulatory Sandbox (RS) by the Reserve Bank of India (RBI). What the nascent FinTech firms bring to the market as value addition in their offerings is the generalisation of intricate processes plus the thoughtful user experience design interface. However, in order to be able to fully benefit from the available benefits and initiate a total digital disruption supported by the proposed RS ecosystem, FinTech companies are required to satisfy the described Selection Criteria for RS participation.

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