Latest news with #RegulatorySandbox
Fintech News ME
22-05-2025
- Business
- Fintech News ME
Pakistan Unveils Regulatory Sandbox Guidelines to Drive Fintech Innovation
The State Bank of Pakistan (SBP) has issued comprehensive Guidelines for the Regulatory Sandbox (RSB) under Section 3 of the Payment Systems and Electronic Fund Transfers (PS&EFT) Act, 2007. These guidelines are designed to provide a controlled regulatory environment for both new and existing entities, including startups, to test cutting-edge financial solutions. The RSB initiative will adopt a cohort-based approach, centered around specific innovative themes, allowing participants to trial their products and operational models in a real-world but supervised setting. The SBP is currently engaged in market consultations and is set to announce the theme(s) for its first RSB cohort by the end of June 2025. By launching this framework, SBP aims to foster a culture of responsible innovation and support the development of a vibrant digital financial ecosystem. The Regulatory Sandbox will serve as a critical tool in both validating fintech innovations and shaping the regulatory landscape to keep pace with rapid technological advancements. The SBP invites all interested stakeholders, particularly fintech startups, financial institutions, and technology providers, to participate in the upcoming cohort and take advantage of this unique platform to pilot innovative ideas that can redefine the future of finance in Pakistan.
Zawya
10-04-2025
- Business
- Zawya
RBI announces six key measures to strengthen India's banking, fintech, payments ecosystems
Mumbai: In a move to strengthen India's financial ecosystem, Reserve Bank of India (RBI) Governor Sanjay Malhotra on Wednesday announced six additional measures focused on banking regulation, fintech, and payment systems. These initiatives were revealed by the RBI governor while announcing the Monetary Policy initiatives. The RBI plans to introduce a new market-based mechanism to enable the securitisation of stressed assets. This will complement the existing Asset Reconstruction Company (ARC) route under the SARFAESI Act, 2002, and aim to deepen the secondary market for distressed loans. Currently, co-lending arrangements are restricted to only priority sector loans by banks and Non-Banking Financial Companies (NBFCs), but they will now be extended to all regulated entities for all loans, priority sector or otherwise. The RBI will issue comprehensive prudential and conduct regulations for gold loans to ensure consistency across regulated entities and account for their varying risk-bearing capacities. The central bank also plans to harmonise the regulations governing non-fund-based credit facilities, such as bank guarantees and letters of credit, across financial institutions. Additionally, the RBI intends to revise guidelines on partial credit enhancement (PCE), a step aimed at expanding funding avenues for infrastructure projects. Draft guidelines for the above four proposals are released for public consultation, with final frameworks to be issued following stakeholder feedback. The fifth announcement is that the National Payments Corporation of India (NPCI) will be empowered to set transaction limits for Unified Payments Interface (UPI) person-to-merchant transactions in consultation with banks and relevant stakeholders. This could pave the way for higher-value digital payments in the retail ecosystem. In a move to foster continuous innovation, the RBI will make its Regulatory Sandbox framework theme-neutral and 'on-tap'. This means fintechs and other entities can apply at any time without waiting for themed cohorts, encouraging more agile experimentation and faster adoption of emerging technologies. RBI Governor stated, "The other two announcements relate to enabling NPCI to decide, in consultation with the banks and other stakeholders, the transaction limits in UPI for person to merchant transactions; and making the Regulatory Sandbox theme-neutral and 'on-tap'. Necessary directions for the implementation of these two measures shall be issued separately." © Muscat Media Group Provided by SyndiGate Media Inc. (
Times of Oman
09-04-2025
- Business
- Times of Oman
RBI announces six key measures to strengthen India's banking, fintech, payments ecosystems
Mumbai: In a move to strengthen India's financial ecosystem, Reserve Bank of India (RBI) Governor Sanjay Malhotra on Wednesday announced six additional measures focused on banking regulation, fintech, and payment systems. These initiatives were revealed by the RBI governor while announcing the Monetary Policy initiatives. The RBI plans to introduce a new market-based mechanism to enable the securitisation of stressed assets. This will complement the existing Asset Reconstruction Company (ARC) route under the SARFAESI Act, 2002, and aim to deepen the secondary market for distressed loans. Currently, co-lending arrangements are restricted to only priority sector loans by banks and Non-Banking Financial Companies (NBFCs), but they will now be extended to all regulated entities for all loans, priority sector or otherwise. The RBI will issue comprehensive prudential and conduct regulations for gold loans to ensure consistency across regulated entities and account for their varying risk-bearing capacities. The central bank also plans to harmonise the regulations governing non-fund-based credit facilities, such as bank guarantees and letters of credit, across financial institutions. Additionally, the RBI intends to revise guidelines on partial credit enhancement (PCE), a step aimed at expanding funding avenues for infrastructure projects. Draft guidelines for the above four proposals are released for public consultation, with final frameworks to be issued following stakeholder feedback. The fifth announcement is that the National Payments Corporation of India (NPCI) will be empowered to set transaction limits for Unified Payments Interface (UPI) person-to-merchant transactions in consultation with banks and relevant stakeholders. This could pave the way for higher-value digital payments in the retail ecosystem. In a move to foster continuous innovation, the RBI will make its Regulatory Sandbox framework theme-neutral and 'on-tap'. This means fintechs and other entities can apply at any time without waiting for themed cohorts, encouraging more agile experimentation and faster adoption of emerging technologies. RBI Governor stated, "The other two announcements relate to enabling NPCI to decide, in consultation with the banks and other stakeholders, the transaction limits in UPI for person to merchant transactions; and making the Regulatory Sandbox theme-neutral and 'on-tap'. Necessary directions for the implementation of these two measures shall be issued separately."
Associated Press
21-03-2025
- Business
- Associated Press
Hong Kong's Low-altitude Economy gears up for take-off
HONG KONG SAR - Media OutReach Neswire - 21 March 2025 - Hong Kong has unveiled its pioneering Low-altitude Economy (LAE) Regulatory Sandbox, marking the official start of pilot projects to promote development of the LAE with a view to creating new business opportunities, strengthening city management and bringing a new 'smart city' experience to the public. Speaking at the launch event yesterday (March 21), Chief Executive of the Hong Kong Special Administrative Region (HKSAR), John Lee, pointed out that the LAE not only gives rise to a series of industries, but also brings a very wide scope of application scenarios with a tremendous potential for development. 'The LAE is one of our nation's strategic emerging industries, as well as an example in exploring new quality productive forces,' Mr Lee said, adding that Hong Kong is dedicated to developing into an international innovation and technology centre and an international hub for high-calibre talent. Hong Kong launches Low-altitude Economy Regulatory Sandbox. Among applications from 72 applicants, 38 projects will be implemented under the first batch of pilot projects to be rolled out starting from April 2025. They come from enterprises, universities/research institutes, public utilities and government departments. The projects cover a wide range of fields and application scenarios, including emergency and rescue, logistics and distribution, inspection and safety maintenance, surveillance and low-altitude infrastructure. Secretary for Transport and Logistics of the HKSAR Government, Mable Chan, said the trial of the sandbox projects would help the Government accumulate experience and data in order to enable the Government and relevant departments to map out and devise a comprehensive infrastructure support for the execution of various LAE activities. 'We hope that with all these projects launching, we would incorporate innovation and technology into our daily lives,' Ms Chan said. She added that the Government would introduce a special provision in the relevant legislation enabling the Director-General of Civil Aviation to allow trials of even more sophisticated and heavier low-altitude equipment, so as to facilitate trials of state-of-the-art models, including those models which can carry passengers. Promoting Regulatory Sandbox pilot projects is a major task of the interdepartmental Working Group on Developing Low-altitude Economy set up in 2024 to boost development of the LAE. At the launch event, a number of organisations of the pilot projects set up booths to introduce the application scenarios and features of their #hongkong #brandhongkong #asiasworldcity #innovation #technology
Yahoo
21-03-2025
- Business
- Yahoo
Hong Kong's Low-Altitude Economy Gears Up for Take-Off
Hong Kong, SAR--(Newsfile Corp. - March 21, 2025) - Hong Kong has unveiled its pioneering Low-altitude Economy (LAE) Regulatory Sandbox, marking the official start of pilot projects to promote development of the LAE with a view to creating new business opportunities, strengthening city management and bringing a new "smart city" experience to the public. Speaking at the launch event yesterday (March 21), Chief Executive of the Hong Kong Special Administrative Region (HKSAR), John Lee, pointed out that the LAE not only gives rise to a series of industries, but also brings a very wide scope of application scenarios with a tremendous potential for development. "The LAE is one of our nation's strategic emerging industries, as well as an example in exploring new quality productive forces," Mr. Lee said, adding that Hong Kong is dedicated to developing into an international innovation and technology centre and an international hub for high-calibre talent. Hong Kong launches Low-altitude Economy Regulatory Sandbox. To view an enhanced version of this graphic, please visit: Among applications from 72 applicants, 38 projects will be implemented under the first batch of pilot projects to be rolled out starting from April 2025. They come from enterprises, universities/research institutes, public utilities and government departments. The projects cover a wide range of fields and application scenarios, including emergency and rescue, logistics and distribution, inspection and safety maintenance, surveillance and low-altitude infrastructure. Secretary for Transport and Logistics of the HKSAR Government, Mable Chan, said the trial of the sandbox projects would help the Government accumulate experience and data in order to enable the Government and relevant departments to map out and devise a comprehensive infrastructure support for the execution of various LAE activities. "We hope that with all these projects launching, we would incorporate innovation and technology into our daily lives," Ms. Chan said. She added that the Government would introduce a special provision in the relevant legislation enabling the Director-General of Civil Aviation to allow trials of even more sophisticated and heavier low-altitude equipment, so as to facilitate trials of state-of-the-art models, including those models which can carry passengers. Promoting Regulatory Sandbox pilot projects is a major task of the interdepartmental Working Group on Developing Low-altitude Economy set up in 2024 to boost development of the LAE. At the launch event, a number of organisations of the pilot projects set up booths to introduce the application scenarios and features of their #hongkong #brandhongkong #asiasworldcity #innovation #technology Ms. Linna KuInformation Services DepartmentHong Kong SAR Governmentlinnaku@ The issuer is solely responsible for the content of this announcement. To view the source version of this press release, please visit
