The Reserve Bank of India (RBI) had announced the opening of the Fourth Cohort on Prevention and Mitigation of Financial Frauds under Regulatory Sandbox. It had invited applications to this Cohort by a press release dated 6th June 2022.
RBI has now issued a press release announcing its receipt of applications for the said Cohort. The present press release was issued on 5th January, 2023.
The RBI has stated that it has received 9 applications in total. Of these nine applications, it has selected 6 applications for the test phase. RBI has listed the said 6 entities and provided a brief description of their products.
These entities are expected to commence testing of their products from February 2023.