The Reserve Bank of India has announced the theme for the Third Cohort under the Regulatory Sandbox (RS) as ‘MSME Lending’. The application for the Third Cohort will be kept open from October 01, 2021 to November 14, 2021. Regulatory Sandbox (RS) refers to live testing of new products or services in a controlled/test regulatory environment for which regulators may (or may not) permit certain regulatory relaxations for the limited purpose of the testing.