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Fintech Regulation: Innovation Sandbox Or Cramped Pit?
The logic of such a restrictive approach by RBI belies the very essence of a sandbox regime, writes Umakanth Varottil.
27 Apr 2019, 05:29 PM IST ![NDTV Profit](/icons/feather-without-circle.svg)
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![Children play with toys in the sand. (Photographer: Gabby Jones/Bloomberg)](https://media.assettype.com/bloombergquint%2F2019-04%2F2bcedb9c-a244-45c0-b40a-23bd83a09cf0%2F329194940_1_8.jpg?rect=0%2C0%2C4000%2C2250&auto=format%2Ccompress&w=200)
Children play with toys in the sand. (Photographer: Gabby Jones/Bloomberg)
Rapid technological developments and giant strides in innovation have stimulated spectacular growth in the financial technology or fintech sector. While this phenomenon has considerable benefits such as financial inclusion in an economy like India, it carries risks such as the lack of adequate consumer protection, excessive risk-taking, and possible implosions, thereby raising the spectre of systemic problems if the risks were to mat...
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