Context
In order to promote and facilitate an environment that accelerates innovation across the financial sector, the Reserve Bank Innovation Hub (RBIH) has been set up as a wholly owned subsidiary of the RBI.
About
What is RBIH?
A company is referred to as Section 8 Company when it registered as a Non-Profit Organization (NPO) i.e. when it has motive of promoting arts, commerce, education, charity, protection of environment, sports, science, research, social welfare, religion and intends to use its profits (if any) or other income for promoting these objectives. |
Independent Board
With its own independent board, the RBIH will facilitate convergence of ideas among various stakeholders.
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