The Reserve Bank of India (RBI) has been operating the Regulatory Sandbox (RS) framework since 2019, as part of which four thematic cohorts have been announced and completed till date. Based on the experience gained and feedback received from stakeholders, an ‘On Tap’ application facility for themes of closed cohorts was announced in October 2021.
A fifth ‘Theme Neutral’ cohort with a specified time window for receiving applications was also announced in October 2023, which is expected to conclude in May 2025. Under this cohort, shortlisted entities were eligible to test any innovative product or solution within the regulatory ambit of RBI.
Entities interested may submit their application along with supporting documents (not exceeding 10 MB in total size) via email. Applications will be assessed in accordance with the provisions of the Enabling Framework for Regulatory Sandbox (as updated on February 28, 2024).
This facility is intended to help in continuous innovation and constructive engagement with innovators and proactively respond to the evolving FinTech scenario.
