Global Deputy CTO of State Bank of India, Amit Saxena has joined RBI Innovation Hub as the Chief Technology Officer (CTO). The Reserve Bank announced that it would set up Reserve Bank Innovation Hub (RBIH) to promote innovation across the financial sector by leveraging on technology and creating an environment that would facilitate and foster innovation.
About the RBIH:
- The RBIH shall create an ecosystem that would focus on promoting access to financial services and products. This will also promote financial inclusion.
- The Hub will collaborate with financial sector institutions, the technology industry, and academic institutions and coordinate efforts for the exchange of ideas and development of prototypes related to financial innovations.
- It would develop internal infrastructure to promote fintech research and facilitate engagement with innovators and start-ups.