India. Pension fund regulator to work with Nasscom, startups for National Pension System
The pension fund regulator is in the process of undertaking steps to identify the areas under the National Pension System (NPS) which could utilise the financial technologies (fintech) using the regulatory sandbox approach for the benefit of subscribers and NPS as a whole.
A regulatory sandbox (RS) usually refers to live-testing of new products or services in a controlled and test regulatory environment for which regulators may or may not permit certain regulatory relaxations for the limited purpose of the testing.
Last month, the Reserve Bank of India proposed that fintech start-ups could set up regulatory sandbox in segments such as retail payments, money transfer, artificial intelligence, and data analytics in the financial sector.
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