![The "Enabling Framework for Regulatory Sandbox" has been updated by RBI The "Enabling Framework for Regulatory Sandbox" has been updated by RBI](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg9mI43uzg88rqHP-Hk5sdDB9qcw6S97hT6xvSmOBGmsWuTxwUMOgSPi-NR6pI6h1j2bdM301sMe9VeLl_y3XLJU8rgl3r-KzHFlSulhlZU-T27w-uRGAnVzyWh-d305RTPxDfSw-RNDpkAwLaU0p4x4ALSR-IKRn-r22geJqCkDbiEZGwU5xIPvcU9F8T8/w320-h192-rw/Copy%20of%20Copy%20of%20Copy%20of%20Untitled%20(500%20%C3%97%20300%20px)%20(500%20%C3%97%20280%20px)%20(500%20x%20300%20px)%20(4).png)
- The updates were based on the experience gained over the last four and a half years in running four cohorts and feedback received from FinTechs, banking partners, and other stakeholders.
- Here are some key updates:
- The timelines of the various stages of the Regulatory Sandbox process have been revised from seven months to nine months.
- The updated framework now requires sandbox entities to ensure compliance with provisions of the Digital Personal Data Protection Act, 2023.
- The ‘Enabling Framework for Regulatory Sandbox’ was initially placed on the RBI website on August 13, 2019, after wide-ranging consultations with stakeholders.
- The objective of the Regulatory Sandbox (RS) is to foster responsible innovation in financial services, promote efficiency, and bring benefit to consumers.
Question:
Q.1 What is the revised timeline for the various stages of the Regulatory Sandbox process?a. Six months
b. Seven months
c. Eight months
d. Nine months