RBI Maintains SBI, HDFC Bank, and ICICI Bank as D-SIBs
The Reserve Bank of India (RBI) has selected five entities for the test phase of its theme-neutral fifth cohort of the regulatory sandbox, following the receipt of 22 applications. Announced in October of the previous year, this initiative allows firms to test new financial innovations in a controlled environment.
The sandbox involves several stages including preliminary screening, application assessment, test design formulation, and evaluation. It provides a controlled environment for live testing of financial products or services, allowing for regulatory relaxations to facilitate testing. This approach helps regulators, financial service providers, and customers assess the benefits and challenges of new innovations while managing associated risks.
The sandbox targets fintechs, banks, and firms that support or partner with financial services businesses. Each cohort is limited in size and duration, ensuring a focused and manageable testing process.
National News The Ministry of Skill Development and Entrepreneurship Marks 12 Years of Skill India…
For the strengthening of the accountability in the city's street food ecosystem, The Gujarat Information Commission…
India has announced the $2.5 million contribution to the United Nations Relief and Works Agency…
Honorable President of India Droupadi Murmu has approved the merger of a REC Limited with…
The Ministry of Skill Development and Entrepreneurship (MSDE) has completed the 12 years of the…
Respectable Union Minister of State for Labour and Employment and MSME, Shobha Karandlaje has led…