Startup Corner: 8 entities to test fintech products for MSME lending under RBI's regulatory sandbox

Eight entities, including SIDBI, have been allowed to test their fintech products for MSME lending as part of the third cohort under RBI's regulatory sandbox scheme. Regulatory sandbox refers to live testing of new products or services in a controlled/test regulatory environment for which the regulators may permit certain relaxations. The Reserve Bank had announced the opening of the third cohort under the regulatory sandbox in September 2021 for MSME lending.

The RBI said it had received 22 applications under the third cohort, of which eight entities have been selected for the 'test phase'.

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