Reserve Bank of India (RBI) inaugurated the Reserve

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Reserve Bank of India (RBI) governor Shaktikanta Das inaugurated the Reserve Bank Innovation Hub (RBIH) in Bengaluru which is intended to encourage and nurture financial innovation in a sustainable manner through an institutional set-up. The RBI has set up RBIH as a wholly owned subsidiary with an initial capital contribution of ₹100 crore. The RBI has set up the RBIH as a Section 8 company under Companies Act, 2013. The Hub has an independent Board with S. Gopalakrishnan as Chairman and other persons from industry and academia as members