RBI allows Theme Neutral applications as a part of On Tap application facility under Regulatory Sandbox

On 9-4-2025, the Reserve Bank of India issued a circular on Regulatory Sandbox- Theme Neutral ‘On Tap’ application Facility to help in continuous innovation and constructive engagement with innovators and proactively respond to the evolving FinTech scenario.

Key Points:

1. As it was announced in the Statement on Developmental and Regulatory Policies dated 9-4-2025, the RBI decided to allow “Theme Neutral” applications as part of the “On Tap” facility under the Regulatory Sandbox.

2. The following are the list for guidance:

   • Digital financial literacy;

   • Digital lending and alternate credit scoring;

   • e-KYC and identity verification;

   • Emerging technologies such as Artificial Intelligence, Blockchain, Machine Learning, Smart Contracts, Tokenisation, etc., in financial services;

   • Financial inclusion;

   • Mule account identification and tracking;

   • Open finance;

   • RegTech

   • SupTech;

   • Solution for:

     • Divyang including voice/language-based financial services;

     • Grievance redressal.

   • Sustainable finance and climate risk mitigation.