RBI launches Innovation Hub in Bengaluru
The Governor, Reserve Bank of India (RBI), Shri Shaktikanta Das inaugurated the Reserve Bank Innovation Hub (RBIH) on March 24, 2022 in Bengaluru, Karnataka.
The RBI has set up the RBIH as a Section 8 company under Companies Act, 2013, with an initial capital contribution of ₹100 crore to encourage and nurture financial innovation in a sustainable manner through an institutional set-up.
Former Infosys Chairman Kris Gopalakrishnan has been appointed as the Chairman of the Reserve Bank Innovation Hub. It will also include other eminent persons from industry and academia as members.
RBIH aims to create an ecosystem that focuses on promoting access to financial services and products for the low-income population in the country.
The Hub would bring convergence among various stakeholders (BFSI Sector, Start-up ecosystem, Regulators & Academia) in the financial innovation space.
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