With the traction that this ecosystem is witnessing, AAs are poised for bringing in the next set of innovation in the financial services segment. P2P regulations came in 2017 when the sector was relatively at the nascent stage in India. A Regulatory Sandbox framework was created in 2019 to incentivise adoption of innovative financial products or services in a controlled environment.
The Reserve Bank Innovation Hub (RBIH) was set up for collaborating with financial sector institutions, technology industry and academic institutions for exchange of ideas and development of prototypes related  2/6  BIS - Central bankers' speeches  to financial innovations.