2019
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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RBI
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SEBI
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Ministry of Finance
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IRDA
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Detailed explanation-1: -How RBI’s Regulatory Sandbox Is Shaping The Future Of India’s Fintech Startups. The Reserve Bank of India, also known as the RBI, is the country’s apex financial body in charge of regulating fintech companies and other financial institutions.
Detailed explanation-2: -Simply put, a regulatory sandbox is a highly controlled environment provided by the central financial body to fintechs/financial institutions to test out newer concepts and innovations before launching to the majority of the public.
Detailed explanation-3: -This has led to the launch of the Regulatory Sandbox by Bank Negara Malaysia (“BNM”) (“Regulatory Sandbox” or “Sandbox”) in October 2016 to provide a regulatory environment that is conducive for the deployment of Fintech and encourage overall technological innovation in the Malaysian financial sector. 1.
Detailed explanation-4: -The FinTech Regulatory Sandbox framework enables financial institutions and FinTech players to experiment with innovative financial products or services in a live environment but within a well-defined space and duration.