Revised Framework for Innovation Sandbox

SEBI vide circular No.
SEBI/HO/ITD/ITD/CIR/P/2021/16 dated
2nd February 2021, has issued a
revised framework for Innovation
SEBI had proposed a concept of
“Innovation Sandbox”. Innovation
Sandbox facilitates access to an
environment (testing facilities and
test data) provided by Enabling
Organizations like Stock Exchanges,
Depositories and Qualified Registrar
and Share Transfer Agents
(QRTAs)where in innovators
(hereinafter referred to as Sandbox
Applicants) would be testing their
innovations in isolation from the live
market and would be used for offline
testing of the proposed solution of the

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