The Reserve Bank of India (RBI) on Monday said two entities – namely HDFC Bank (in partnership with Crunchfish AB) and Precision Biometric India Private Ltd. – have been selected for the ‘test phase’ of the ‘On Tap’ application facility for the theme ‘Retail Payments’ under regulatory Sandbox.

Regulatory sandbox refers to live testing of new products and services conducted in a controlled environment.

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By Dipak

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