• Post Graduate Program In Finance And Accounting
    Co-created with Grant Thornton
    4.9 out of 5 by 238 learners
    14 X industry demand
  • Professional Certification in FinTech
    Co-created with SP Jain School of Global Management
    4.6 out of 5 by 1250 learners
    6X industry demand
  • Credit Risk and Underwriting Prodegree
    Co-created with Moody’s Analytics
    4.5 out of 5 by 526 learners
    4X industry demand
  • Banking And Wealth Management Bootcamp
    4.7 out of 5 by 460 learners
    3X industry demand
  • Post Graduate Program In Capital Markets
    4.7 out of 5 by 807 learners
    3X industry demand
  • Certified Investment Banking Operations Professional
    4.8 out of 5 by 7600 learners
    8X indsutry demand
  • Post Graduate In New Age Banking
    4.6 out of 5 by 1726 learners
    4X industry demand
  • Financial Analysis Prodegree
    Co-created with KPMG
    4.7 out of 5 by 3311 learners
    4X indsutry demand

The Initiative
RBI has set up a working group of inter-functional regulatory panels to study issues related to regulating the functioning of Fintech companies and banking digitally in India. With more than 30 players in Indian P2P lending currently, the market size is slated to cross the US $4-5 billion by 2023. RBI has finally issued guidelines to better P2P lending, regulate it and make it trustworthy.
The RBI study of the emerging sectors of Fintech and banking has recommended a “regulatory sandbox” to encourage new initiatives. Also, a law relating to the protection of data.
Importance Of Data Across Various Departments
Access to APIs of banks for small companies is a huge problem and risk to the banking institution itself. Thus the sandbox hub is a safe environment to launch trials of fintech innovations and enable a trial version under the supervision of the regulator. This way, innovative products do not pose a destabilising risk.
Further, it provides support by regulating the sector and increases efficiency, reduces risks and creates newer opportunities in the Indian context. The rights over the innovations of these fintech companies get protection while the financial institutions get more unique ways of improving their digital services. It is a win-win situation.
The RBI also suggests a valid law for the protection of data in India. At present, there is no law to protect data. Several laws contain clauses that help define the situation. According to a study, the Fintech industry in India grew 282% to reach $450 million in 2015. At present around 400 such firms are operating in the country and their investments are expected to increase by 170% by 2020. A law is on the anvil! In reality, the symbiotic relation of various sectors involved moots the formation of rules and a framework to work in.
Other Fintech Sandbox Initiatives – ICICI, Kotak, Yes, SBI
Chief Minister of Maharastra Devendra Fadnavis has said that the government has provided cheaper electricity, tax benefits, financial incentives, support and internet connectivity for these initiatives. They also held a conference on blockchain technology last year, and lenders like YES Bank, SBI, and Kotak Mahindra Bank have already entered into agreements to adopt it.
The YES Bank has diversified its interests. The bank has now launched YES SCALE — a multi-sector acceleration programme where YES Bank will accelerate initiatives in various sectors such as Smart City, Agritech, Fintech, Edutech and so on. ICICI too has rolled out some initiatives as part of an organisation-wide recast programme. The Kotak Bank and SBI, in turn, have also adapted and have started their limited trial versions in their sandboxes.
The Singapore Authority, European nations, and even the Middle East have all started sandboxes. A regulatory sandbox would level the playing field, and more innovations will happen because of the controlled environment and accessibility to resources for everyone. This is a welcome and well-thought-out initiative where many sectors reap the benefits of technology.
References:
https://www.thehindubusinessline.com/news/national/maharashtra-govt-unveils-sandbox-to-aid-start-ups/article24065930.ece
https://www.thehindubusinessline.com/news/national/maharashtra-govt-unveils-sandbox-to-aid-start-ups/article24065930.ece
 

For Online Course Enquiries
About Imarticus
Imarticus Learning is India’s leading professional education institute that offers training in Financial Services, Data Analytics & Technology. We’ve successfully transformed careers of over 35,000+ individuals globally through our Certification, Prodegree, and Post Graduate programs offered in association with leading and renowned global organisations in the Financial Services, Data Analytics & Technology domain.
Related course
  • Post Graduate
    Post Graduate Program In Finance And Accounting
    Co-created with Grant Thornton
    Course duration(months)
    4
    Upcoming batches
    1
    Organizations enrolled
    20
    4.9 out of 5 by 238 learners
    14 X industry demand
    Upcoming Batches
    Date Location Schedule
    None DELHI Online
    Date Location Schedule
  • Prodegree
    Professional Certification in FinTech
    Co-created with SP Jain School of Global Management
    Course duration(Months)
    4
    Upcoming batches
    1
    Organizations enrolled
    20
    4.6 out of 5 by 1250 learners
    6X industry demand
    Upcoming Batches
    Date Location Schedule
    none ONLINE Online
    Date Location Schedule
  • PRODEGREE
    Credit Risk and Underwriting Prodegree
    Co-created with Moody’s Analytics
    Course duration(Months)
    3
    Upcoming batches
    1
    Organizations enrolled
    20
    4.5 out of 5 by 526 learners
    4X industry demand
    Upcoming Batches
    Date Location Schedule
    30th-May ONLINE Weekend
    Date Location Schedule
  • Certification
    Banking And Wealth Management Bootcamp
    Course duration(Months)
    2-3
    Upcoming batches
    1
    Organizations enrolled
    20
    4.7 out of 5 by 460 learners
    3X industry demand
    Upcoming Batches
    Date Location Schedule
    Not Available ONLINE Weekend
    Date Location Schedule
  • Post Graduation
    Post Graduate Program In Capital Markets
    Course duration(months)
    4
    Upcoming batches
    1
    Organizations enrolled
    20
    4.7 out of 5 by 807 learners
    3X industry demand
    Upcoming Batches
    Date Location Schedule
    Not Available ONLINE Online
    Date Location Schedule
  • Certification
    Certified Investment Banking Operations Professional
    Course duration(Months)
    2-3
    Upcoming batches
    1
    Organizations enrolled
    20
    4.8 out of 5 by 7600 learners
    8X indsutry demand
    Upcoming Batches
    Date Location Schedule
    26th-May THANE Weekday
    Date Location Schedule
  • Post Graduation
    Post Graduate In New Age Banking
    Course duration(months)
    4
    Upcoming batches
    1
    Organizations enrolled
    20
    4.6 out of 5 by 1726 learners
    4X industry demand
    Upcoming Batches
    Date Location Schedule
    None ONLINE Online
    Date Location Schedule
  • Prodegree
    Financial Analysis Prodegree
    Co-created with KPMG
    Course duration(Months)
    3
    Upcoming batches
    1
    Organizations enrolled
    20
    4.7 out of 5 by 3311 learners
    4X indsutry demand
    Upcoming Batches
    Date Location Schedule
    23rd-May ONLINE Weekend
    Date Location Schedule