Sebi revises objective, eligibility criteria of innovation sandbox with graded entry norms
The committee would supervise the operations of the innovation sandbox. Also, it would process the applications submitted by sandbox applicants and approve or reject applications and assign lead enabling organisations
PTI | February 3, 2021 | Updated 10:34 IST
Sebi said the capital market in India has been an early adopter of technology and the regulator believes that encouraging adoption and usage of financial technology (FinTech) would have a profound impact on the development of the securities market
In order to encourage innovation and boost participation, markets regulator Sebi on Tuesday revised the objective and eligibility criteria of its innovation sandbox with graded entry norms. In addition, a steering committee comprising representatives from the enabling organisations has been formed to drive the innovation sandbox, the Securities and Exchange Board of India (Sebi) said in a c
In order to encourage innovation and boost participation, markets regulator Sebi on Tuesday revised the objective and eligibility criteria of its innovation sandbox with graded entry norms. In addition, a steering committee comprising representatives from the enabling organisations has been formed to drive the innovation sandbox, the Securities and Exchange Board of India (Sebi) said in a circular. The committee would supervise the operations of the innovation sandbox. Also, it would process the applications submitted by sandbox applicants and approve or reject applications and assign lead enabling organisations. Such lead enabling organisations would be responsible for onboarding the applicant post approval of the application and monitoring the applicant throughout the lifecycle of the sandboxing, the regulator noted.