<h1>RBI Launches Innovation Hub in Bengaluru to Boost Financial Sector Innovations and Promote Inclusive Growth.</h1> The Reserve Bank of India inaugurated the Reserve Bank Innovation Hub (RBIH) in Bengaluru to foster financial sector innovation. The RBIH, a wholly owned subsidiary of the RBI, aims to create an ecosystem for developing financial prototypes, patents, and proofs of concept. It will collaborate with industry, academia, and government to identify and solve financial challenges, focusing on inclusive growth and access to financial services for low-income populations. The Hub will mentor start-ups and facilitate knowledge exchange, positioning itself as a center for innovation and incubation with an emphasis on societal transformation and efficient processes.