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In order to enhance the reach and achieve the desired aim, the eligibility criteria of the Regulatory Sandbox is revised. The Objective of Regulatory Sandbox: To grant certain facilities and flexibilities to the entities regulated by SEBI so that they can experiment with FinTech solutions in a live environment and on limited set of real users for a limited time frame. The updated guidelines pertaining to the functioning of the Regulatory Sandbox are provided in this attached circular. This circular is being issued in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992 and Section 19 of the Depositories Act, 1996 to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.