wordpress blog stats
Connect with us

Hi, what are you looking for?

RBI will allow companies in MSME lending to live test regulations

The first two cohorts under the RBI’s sandbox pertained to regulations on other issues like retail payments.

The Third Cohort under the Regulatory Sandbox (RS) of the Reserve Bank of India (RBI) will start accepting applications from October 1, 2021, RBI said in a statement. The focus of the Third Cohort will revolve around MSME (Micro, Small, and Medium Enterprises) Lending, the RBI had revealed in December last year. The last date for sending applications is November 14, 2021. The Indian central bank had also toned down eligibility norms for applications under sandbox by reducing the net worth requirement from Rs. 25 lakh to Rs. 10 lakh back while releasing the theme for the third cohort.   It is well known that India's bureaucratic hurdles are baked into its regulatory environment. Stakeholders from the trade and commerce industry believe red tape deters innovation; it is what the regulatory sandbox attempts to address with its relaxations. The sandbox is like a Special Economic Zone (SEZ) for conducting financial experiments. If successful, the scheme could produce an increased range of products and services, reduce costs, and improve access to financial services. What is the Regulatory Sandbox?  Regulatory sandbox involves live testing of new products or services in a controlled environment in which participating entities can take advantage of relaxed regulatory requirements, Moneycontrol explained. “The sandbox allows regulators, innovators, financial services providers and customers to conduct field tests to collect evidence on benefits and risks of new financial innovations while carefully monitoring and containing risks,” the business website elaborated in its report.  The regulatory sandbox framework was rolled out by the RBI…

Please subscribe/login to read the full story.
Written By

I cover several beats such as Crypto, Telecom, and OTT at MediaNama. I can be found loitering at my local theatre when I am off work consuming movies by the dozen.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

Studying the 'community' supporting the late Sushant Singh Rajput (SSR) shows how Twitter was gamed through organized engagement

News

Do we have an enabling system for the National Data Governance Framework Policy (NDGFP) aiming to create a repository of non-personal data?

News

A viewpoint on why the regulation of cryptocurrencies and crypto exchnages under 2019's E-Commerce Rules puts it in a 'grey area'

News

India's IT Rules mandate a GAC to address user 'grievances' , but is re-instatement of content removed by a platform a power it should...

News

There is a need for reconceptualizing personal, non-personal data and the concept of privacy itself for regulators to effectively protect data

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ