Self-Regulatory Organisation

Recently, Reserve Bank of India (RBI) Governor Shaktikanta Das has asked fintech entities to form a Self-Regulatory Organisation (SRO).

About SRO

  • SRO is a non-governmental organisation that sets and enforces rules and standards relating to the conduct of entities in the industry (members).
  • It is aimed at protecting the customer and promoting ethics, equality, and professionalism.
  • It typically collaborates with all stakeholders in framing rules and regulations.
  • Those entities who are interested in being recognised as SROs will have to apply to the RBI.
  • Once the regulator finds an entity suitable, it will issue a letter of recognition.
  • It is expected to address concerns ....
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