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Corporate Laws Central Ministry of Finance Reserve Bank of India Act, 1934

Regulatory Sandbox: Fourth Cohort on Prevention and Mitigation of Financial Frauds - Exit

18-Jun-2024 | Press Release: 2024-2025/520

Reserve Bank of India has issued press release on Regulatory Sandbox: Fourth Cohort on Prevention and Mitigation of Financial Frauds - Exit. By virtue of such press release, three products outlined below have been found viable within the boundary conditions defined during testing under RS: 1. Bahwan Cybertek Private Limited (Partner Financial InstitutionaIDBI Bank) 2. napID Cybersec Private Limited (Partner Financial Institution - City Union Bank) 3. Trusting Social Private Limited (Partner Financial Institution - Protium Finance Limited and Finnovation Tech Solutions Private Limited) All the entities have now exited the Fourth Cohort of the Regulatory Sandbox on Prevention and Mitigation of Financial Frauds. The products found acceptable under this Cohort may be considered for adoption by Regulated Entities subject to compliance with applicable regulatory requirements. The Fourth Cohort on Prevention and Mitigation of Financial Frauds is now open for On Tap application. Scanned copy of the application together with enclosures (maximum size 10 MB), may be sent through email.

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