Q. Which institution has authorised six fintech entities to test their products under regulatory sandbox scheme?
Answer:
RBI
Notes: Six entities have been allowed to test their fintech products to prevent and mitigate financial fraud as part of the fourth cohort under the RBI’s regulatory sandbox scheme.
The Reserve Bank announced the the fourth cohort under the regulatory sandbox in June 2022 for the prevention and mitigation of financial fraud. The six entities are — Bahwan Cybertek, Crediwatch Information Analytics, enStage Software (Wibmo), HSBC in collaboration with Wibmo, napID Cybersec and Trusting Social.