SEBI & IRDAI launch initiatives to boost startups |
Indian market regulator SEBI or the Securities Board of India & IRDAI are taking different initiatives to encourage startups in their segments by making data and systems available to them. The RBI had last month announced a regulatory sandbox where startups could test out new financial products in real time with limited regulations. On Monday, insurance regulator IRDAI and markets regulator Sebi also announced similar initiatives. IRDAI said that with the regulatory sandbox approach, fintechs “will have a safe and conducive space to experiment... and where the consequences of failure can be contained.” Sebi`s sandbox creates a platform for offline testing of proposed solutions of startups in isolation from the live market. One of the most important components of this sandbox is the access to securities market related data, which will help users to test and improve their fintech solutions.
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