The Reserve Bank of India has updated ‘Enabling Framework for Regulatory Sandbox’ to include ‘On Tap’ application facility for themes of closed cohorts, vide circular dated October 8, 2021. Accordingly, the theme ‘Retail Payments’ is now open for application. This ‘On Tap’ facility is expected to help in continuous innovation and engagement with innovators and proactively respond to the dynamics of rapidly evolving FinTech scenario.
*Tanvi Singh, Editorial Assistant has reported this brief.