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Making India a global FinTech hub
Fintech has exploded in India in the last couple of years but there is still room for massive growth. With more than 600 startups in the space of lending, payments, insurance, trading, India is emerging as a Fintech products hub.
Globally, regulators face the challenge of nurturing innovation without over-regulating but at the same time protecting consumer interests. To overcome this challenge, many countries have adopted a “Regulatory Sandbox” based approach where the regulator works closely with emerging Fintech firms.
In this paper, a framework for regulators to identify sandbox candidates and execute the sandbox has been presented.