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The "Enabling Framework for Regulatory Sandbox" has been updated by RBI

Published on February 29, 2024
Current Context: The Reserve Bank of India (RBI) has indeed updated the ‘Enabling Framework for Regulatory Sandbox’ on 28th February 2024.
The "Enabling Framework for Regulatory Sandbox" has been updated by RBI
  • 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.


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
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