RBI creates Reserve Bank Innovation Hub (RBIH)

The Reserve Bank of India has created a Reserve Bank Innovation Hub (RBIH). The aim of RBIH is to promote innovation across the financial sector by leveraging on technology and creating an environment which would facilitate and foster innovation.
Reserve Bank Innovation Hub (RBIH) would be managed by a Governing Council (GC) consisting of 10 members (including a chairperson). Shri Senapathy (Kris) Gopalakrishnan, co-founder and former co-Chairman, Infosys, has been appointed as the first Chairperson of the RBIH.
RBIH will collaborate with financial sector institutions, technology industry and academic institutions and coordinate efforts for exchange of ideas and development of prototypes related to financial innovations.