Categories: Banking

RBI announces Opening of Third Cohort under the Regulatory Sandbox

The Reserve Bank of India has announced the theme for the Third Cohort under the Regulatory Sandbox (RS) as ‘MSME Lending’. The application for the Third Cohort will be kept open from October 01, 2021 to November 14, 2021. Regulatory Sandbox (RS) refers to live testing of new products or services in a controlled/test regulatory environment for which regulators may (or may not) permit certain regulatory relaxations for the limited purpose of the testing.

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Before this, RBI has launched two cohort under the regulatory sandbox. These are:

First Cohort: First Cohort under the Regulatory Sandbox was launched by RBI in December 2020, with the theme as ‘Retail Payments’. Six entities have completed the testing phase of the cohort.
Second Cohort: Second Cohort under the Regulatory Sandbox was announced by RBI in December 2020 with the theme as ‘Cross Border Payments’. Eight entities have been selected for the ‘Test Phase’.

Important takeaways for all competitive exams:

RBI 25th Governor: Shaktikant Das; Headquarters: Mumbai; Founded: 1 April 1935, Kolkata.

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Sumit Arora

As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.