Short Article
25-11-2020 | 17:04 PM
Reserve Bank Innovation Hub
Kris Gopalakrishnan was elected the first Chairman of the Reserve Bank Innovation Centre. He has been allocated to the Indian Reserve Bank.
The aim of the Reserve Bank Innovation Hub is to foster innovation in the financial sector.
Key Points:
The RBI has set up a hub for fostering, encouraging and hand-holding cross-thinking. The goal of the hub would be to expand the use of emerging technology in the financial sector.
The hub serves as a centre for the incubation and growth of new capabilities that can be leveraged to build creative financial services and goods.
Kris Gopalakrishnan Committee:
It will be headed by the Board of Governors, which will have nine other members. Members are IITs, IISc, Indian National Payment Firm, etc. The Board of Governors shall administer the Reserve Bank Innovation Center.
