RBI working on regulatory norms for fintech cos

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RBI working on regulatory norms for fintech cos

As many as seven payments banks have commenced their operations.

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NEW DELHI: RBI Governor Shaktikanta Das on Monday said he will be meeting heads of payments banks later this week to understand their issues and concerns.

As many as seven payments banks have commenced their operations.

He also said guidelines on regulatory sandbox will be issued in the next two months to promote financial technology in the country.

A sandbox approach means experimenting and learning before finally adopting a technology or system. This approach helps in containing the impact of failures.

Source- Economic Times.

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