The Reserve Bank of India, in a statement issued on November 17, 2020, stated that Senapati (Kris) Gopalakrishnan, co-founder and former co-chairman of Infosys, was appointed as the first chairman of the Reserve Bank Hub (RBIH) has been done. Presently, he is the head mentor of the start-up village which is an incubation center for various start-ups.
In August 2020, the Central Bank of India (RBI) announced the setting up of the Reserve Bank Innovation Hub to promote innovation in the financial sector. This process, along with leveraging technology, will create an environment that promotes and facilitates innovation.
The Reserve Bank Innovation Hub will create an ecosystem that will focus on promoting access to financial services and products.
This hub, created by the Reserve Bank, will also collaborate with technology industry, financial sector institutions and academic institutions. It will also promote working together with start-ups and innovators to develop internal infrastructure to promote fintech (finance and technology) research.
