Irdai mulling to extend testing period under regulatory sandbox mechanism to 3 yrs
As of now, the applicants under the regulatory sandbox mechanism can apply through cohorts. "Here we now realise that this has to be a continuous process, the period for which they are allowed to test such products in the market is only limited to six months. We are now proposing to expand that period to even up to three years, particularly for life insurance products," Debasish Panda, Chairperson, Irdai said.
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