Recently Reserve Bank of India announced to issue guidelines on a regulatory sandbox for the fintech...........

Economic Affairs Financial Markets

Recently, Reserve Bank of India announced to issue guidelines on a regulatory sandbox for the fintech sector, which of the following statement/s is/are correct regarding the regulatory sandbox?

1. It is a framework set up by a regulator to conduct live experiments in a controlled environment under supervision.

2. It is a evidence-driven regulatory framework which help regulators to frame policies.

3. It gives direct powers to relax, amend or draft new regulations by Fintech start-ups.

1 and 2

2 and 3

1 and 3

Only 1

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Explanation:

A Sandbox is a framework set up by a regulator that allows FinTech start-ups to conduct live experiments in a controlled environment under supervision.. The regulatory sandbox will help fintech companies to launch innovative products at a lower cost and in less time and enable fintech companies to conduct live or virtual testing of their new products and services.It is of suggestive nature and do not provide any power to influnece new regulations by Fintech start-ups.