CS Professional · IFSCA - Regulations, Listing and Compliances · Overview of FinTech and Service Providers in IFSC
Nimbus Pay Pvt Ltd, an Indian start-up, wants to test an innovative cross-border payments solution on a limited set of live customers in GIFT IFSC for a short period under relaxed regulatory requirements, before deciding on full authorisation. Which IFSCA facility is designed for this purpose?
The regulatory sandbox is the right facility. IFSCA allows FinTech entities to test innovative products and services on a limited scale with live customers under relaxed requirements and supervision, before seeking full authorisation. The other options are unrelated to controlled experimentation.
- ARegulatory sandboxCorrect
- BFull banking licence
- CListing on an international exchange
- DApproval as a bullion trading member
Explanation
IFSCA operates a regulatory sandbox framework that lets FinTech entities test innovative products or services on a limited scale in a controlled live environment with relaxations. A full banking licence, exchange listing or bullion membership do not serve the purpose of limited-scale testing.
Did you get it right without looking?
One question tells you little. A timed set on Overview of FinTech and Service Providers in IFSC shows your real accuracy, how long you take and where you lose marks.
More Overview of FinTech and Service Providers in IFSC questions
- Mehta Infotech, based in Mumbai, wants to provide software services only to its Indian domestic clients but also wishes to claim it is an IF…
- Aarav Analytics is admitted to the IFSCA Regulatory Sandbox to test a robo-advisory tool. Midway through the testing period, it finds that i…
- Nimbus Pay is in the IFSCA sandbox. A customer wishes to try its service. Which feature of sandbox testing best protects such participants?
- Arjun Digital Services plans to offer data-processing and technology support services in GIFT IFSC to financial institutions there, without …
- Vedant Tech, authorised by IFSCA as a FinTech entity, completes its sandbox testing on a robo-advisory tool. Its testing period ends but it …
- Kavach Analytics Pvt Ltd, based in GIFT City, builds software that automatically reads regulatory circulars and maps them to a bank's intern…