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Gift For Fintechs: RBI Updates Regulatory Sandbox Framework, Extends Cohort Timelines

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Gift For Fintechs: RBI Updates Regulatory Sandbox Framework, Extends Cohort Timelines

The Reserve Bank of India (RBI) has released an updated framework for enabling regulatory sandbox (RS) to support fintech startups. The sandbox allows these entities to test their products or services in a controlled and regulated environment without full compliance with standard regulatory norms. The framework has been revised based on feedback from fintechs, banking partners, and other stakeholders. The new rules include a revised timeline for the sandbox process and the introduction of a phase called "formulation of test design and integration." The rules also mandate compliance with data protection regulations and require entities to ensure safeguards against personal data breaches.

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