RBI Issues FAQs on Inter-Operable Regulatory Sandbox for Innovators
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- Last Updated on 19 September, 2025
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FAQs dated 17.09.2025
1. Introduction
The Reserve Bank of India (RBI) has released a set of Frequently Asked Questions (FAQs) on the Inter-operable Regulatory Sandbox (IoRS). This initiative is designed to provide clarity to potential participants and encourage innovation in the financial sector. By addressing common queries, the RBI aims to make the sandbox process more transparent and accessible for fintechs and other stakeholders.
2. Purpose of the IoRS
The IoRS acts as a unified testing platform for innovators developing financial products and services that involve the jurisdiction of multiple regulators. Instead of approaching different regulators separately, innovators can now test their hybrid solutions in a coordinated environment. This helps in reducing regulatory fragmentation and ensures a smoother path for innovative products to reach the market.
3. Coverage and Scope of Testing
The FAQs provide detailed insights into the eligibility criteria, application process, and scope of testing under the IoRS. Innovators can leverage this platform to test products like hybrid payment solutions, financial advisory models, or technology-driven compliance tools that span across banking, securities, insurance, and other financial sectors.
4. Benefits for Innovators
By participating in the IoRS, innovators not only get an opportunity to pilot their products in a controlled environment, but also benefit from direct regulatory guidance and feedback. This allows for early identification of potential compliance challenges and helps align product design with regulatory expectations before wider rollout in the market.
5. Conclusion
The release of FAQs on the IoRS marks a step forward in India’s journey toward fostering financial innovation. By clarifying procedures and simplifying participation, the RBI has opened the door for fintechs and innovators to experiment responsibly while maintaining regulatory safeguards. For further queries, participants can reach out directly to iors@rbi.org.in, ensuring open communication and support.
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