Shaktikanta Das inaugurates Reserve Bank Innovation Hub in Bengaluru
- Shri Shaktikanta Das, Governor of RBI has inaugurated the Reserve Bank Innovation Hub (RBIH) on March 24, 2022 in Bengaluru, Karnataka
- RBI has set up the RBIH with an initial capital contribution of Rs. 100 crore. The objective of RBIH is to encourage and nurture financial innovation in a sustainable manner through an institutional set-up. It has been setup as a Section 8 company under Companies Act, 2013.
- Reserve Bank Innovation Hub (RBIH) is one of the five wholly-owned subsidiaries of the RBI.
Points to remember:
- Where is the Reserve Bank Innovation Hub (RBIH) located?- Bengaluru
- What is RBI’s initial contribution to Reserve Bank Innovation Hub (RBIH)?= Rs 100 crore
- RBI has how many wholly owned subsidiaries?= 5
Source: RBI