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RBI selected Precision and HDFC Bank for retail payments test phase

RBI selected Precision and HDFC Bank for retail payments test phase

RBI selected Precision and HDFC Bank for retail payments test phase: RBI has selected HDFC Bank and Precision Biometric India for testing their ‘on tap’ retail payments applications under the regulatory sandbox scheme.

September 2022 Current Affairs Quiz

Regulatory sandbox:

It refers to live testing of new products or services in a controlled/test regulatory environment. For this regulators permit certain relaxations for the limited purpose of the testing. It allows the regulator, innovators, financial service providers and customers to conduct field tests.

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