RBI Executive Director T Rabi Sankar participated in a virtual conference organized by FICCI (Federation of Indian Chambers of Commerce & Industry). In the conference, he spoke about RBI’s plan to set up an innovation hub.
He said, “Innovation Hub is one of the things that we are trying out where we are looking at actually creating ideation, creating ideas to evolve technologies… RBI is in the process of setting up an Innovation Hub. We would expect technology firms, financial entities, academic entities, even funding agencies, all of them to interact on this hub and start the entire process from ideation to creation to piloting of solutions.”
He also said that as per the framework released by the RBI, Fortune 500 companies will be allowed to set up umbrella entities.
#BusinessNews: The RBI is in the process of setting up an innovation hub which will focus on future technology in the financial services space, an RBI official said. #RBI #Technology #FinanceSector #InnovationHub @RBI https://t.co/G9ONqyJxpB
— The Pioneer (@TheDailyPioneer) September 7, 2020
