The Reserve Bank of India (RBI) on Friday announced five entities were selected for the test phase of the regulatory sandbox’s theme-neutral fifth cohort that it had announced in October last year.
It was announced earlier itself by the central bank that the Fifth Cohort under Regulatory Sandbox will be theme neutral.
Innovative products/ services/ technologies cutting across various functions in RBI’s regulatory domain would be eligible to apply, it had said.
RBI received twenty-two applications of which five have been selected for the ‘Test Phase’. The entities shall commence testing of their solutions from August 2024.
The selected entities include companies namely Connectingdot Consultancy, Epifi Technologies, Finagg Technologies, Indian Banks’ Digital Infrastructure Company (IBDIC), and Signzy Technologies.
These firms offer services such as categorisation of risks in loan portfolios, digital opening of accounts for Non-Resident Indians (NRIs) through video Know Your Customer (KYC), MSME financing, unassisted video KYC, among others.
