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Startups must have insurance cover to participate in RBI Sandbox

Startups that are going to take part in RBI's proposed regulatory sandbox need to have an insurance cover based on the risk of operation and potential liability before entering the program. The policy cover shall begin with the start of testing stage and end 3 months after the exit of the Sandbox entity from the RS. The sandbox will allow the startups to run time-bound tech, financial, and business models under a set of rules.