Title: Expectations of FinTech start-ups and regulatory sandbox in India: an empirical study

Authors: Upendra Nath Shukla; Anil Dubey

Addresses: Amity Business School, Amity University Uttar Pradesh, India ' SCIFI, IIM, Lucknow, Uttar-Pradesh, India

Abstract: A recent global survey ranks India second in terms of FinTech adoption, with an adoption rate of 52%. It is reported that there are as many as 1,994 FinTech companies operating in India (Assocham Report, 2019), creating numerous jobs, investment appetite and business opportunities both for Indian and multinational companies. As the rules designed for traditional banking sector, may not be applicable for FinTech sector, Reserve Bank of India (RBI) has come up with a framework for regulatory sandbox in August'2019. The objective of this research paper is to gauge the response of FinTech start-ups about regulatory sand box. A survey of 170 start-ups was conducted in India to understand their expectations from the regulatory sandbox. Analysis revealed that - security, creditworthiness and compliance are the responsible factors for success of regulatory sandbox and FinTech start-ups in India, leading to a great avenue of business and growth for both domestic and multinational companies in this nascent sector.

Keywords: financial technology; FinTech; start-up; regulatory sandbox; cashless; entrepreneurs; India; Reserve Bank of India; RBI; technology.

DOI: 10.1504/IJBIR.2022.121542

International Journal of Business Innovation and Research, 2022 Vol.27 No.2, pp.242 - 262

Received: 03 Oct 2019
Accepted: 01 Feb 2020
Published online: 18 Mar 2022 *

Full-text access for editors Full-text access for subscribers Purchase this article Comment on this article