Maharashtra government unveils 'sandbox' to aid startups to develop Mumbai into fintech hub
It can be noted that in a report released in February, a Reserve Bank panel had recommended introducing a "regulatory sandbox" to foster financial technology innovation. Generally, sandbox is seen as a safe zone to test financial innovation which sees a limited rollout of new products to select customers.
In its efforts to develop the financial capital into a fintech hub, the Maharashtra government today announced a 'sandbox' to aid startups in the space. Image source: Reuters