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Global Financial Innovation Network (GFIN)

  • Published
    15th May, 2023
Context

The Reserve Bank of India has opened the application window for all India-based firms and innovators to participate in Global Financial Innovation Network (GFIN)’s first-ever Greenwashing TechSprint.

Key-highlights

  • RBI will be among the 13 international regulators taking part in GFIN’s Greenwashing TechSprint.
  • The TechSprint will bring together 13 international regulators alongside firms and innovators to address GFIN’s priority on environmental, social and governance (ESG) and sustainable finance.

Global Financial Innovation Network (GFIN)

  • Launched in: 2019
  • The Global Financial Innovation Network (GFIN) is a network of over 70 organisations committed to supporting financial innovation in the interests of consumers.
  • It seeks to provide a more efficient way for innovative firms to interact with regulators, helping them navigate between countries as they look to scale new ideas.
  • This includes the ability to apply to join a pilot for firms wishing to test innovative products, services or business models across more than one jurisdiction.
  • The GFIN also aims to create a new framework for cooperation between financial services regulators on innovation-related topics, sharing different experiences and approaches.
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