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RBI creates Innovation Hub

Published on November 18, 2020
Current Context: The Reserve Bank of India (RBI) has set up ‘Reserve Bank Innovation Hub (RBIH).’
RBI creates Innovation Hub
  • The Innovation Hub is set up for the financial sector’s innovation.
  • The innovation in the financial sector will take place with the help of technology.
  • For this purpose, the RBIH will coordinate with financial sector institutions, technology industry and academic institutions for the purpose exchange of ideas and develop the prototypes related to financial sector innovation. 
  • Also, RBI has appointed Senapathy (Kris) Gopalakrishnan, who is co-founder and former co-chairman of Infosys to be the first Chairperson of the RBIH. The whole RBIH will be managed by 10 members.
  • The aim of RBIH is to develop an eco-system which will promote access to financial services and products.
  • The unit will develop internal infrastructure which will help to conduct fintech research.
  • Static Part: 
    • HQ of RBI: Mumbai
    • Governor of RBI: Shaktikanta Das.
    • Deputy Governors of RBI: BP Kanungo, MK Jain, MD Patra and Rajeshwar Rao.


Q.1 Who among the following is appointed as the first Chairperson of the ‘Reserve Bank Innovation Hub (RBIH)’?
a. MK Jain
b. Senapathy (Kris) Gopalakrishnan
c. Ashok Jhunjhunwala
d. Deepak Kumar

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