RBI finalises Omnibus Framework for recognising Self-Regulatory Organisations (SROs) for regulated entities, including fintechs.

The Reserve Bank of India (RBI) has finalised an Omnibus Framework for recognising Self-Regulatory Organisations (SROs) for its regulated entities, including fintechs. The framework sets common parameters for all SROs, including broad objectives, responsibilities, eligibility criteria, governance standards and conditions for grant of recognition. It aims to enhance industry standards for self-regulation and improve regulatory compliance among SRO members.