Explanation:

• The lnsurance Regulatory and Development Authority of lndia (lRDAl) has formed an eight-member committee Under the Chairmanship of S.Sadagopan to evaluate applications filed under the Regulatory Sandbox(RS).The Committee will have a term of one year & meet whenever required.
• Regulatory Sandbox is live testing of new products in a secure & controlled regulatory environment.
• Chairman of IRDAI - Subhash Chandra Khuntia