RBI sets up innovation hub for financial sector under Kris Gopalakrishnan

The aim of the facility is to create an eco-system that would "focus on promoting access to financial services and products. This will also promote financial inclusion

The Reserve Bank of India (RBI) has set up an Innovation Hub for the financial sector and appointed Senapathy (Kris) Gopalakrishnan, co-founder and former co-chairman of  Infosys, as the chairperson of the governing council for the entity.

The central bank had said in its August monetary policy that it was going to set up a Reserve Bank Innovation Hub (RBIH) to promote innovation across the financial sector by leveraging on technology and creating an environment which would facilitate and foster innovation.

The aim of the RBIH is to create an eco-system that would “focus on promoting access to financial services