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The Reserve Bank of India last month released the draft ‘Enabling Framework for Regulatory Sandbox’ for fintech companies. Shilpa Mankar Ahluwalia, partner at law firm Shardul Amarchand Mangaldas, explains what working within a regulatory sandbox means for fintech companies and financial sector entities.
Why is there a need for a regulatory sandbox for fintech companies?
The fintech sector in India has witnessed rapid innovation in technology and products. There are multiple regulations that could potentially apply to a single fintech product — and it is not always clear how a new product will be regulated.
Arguably, this inhibits innovation on the ground that
