RBI Finalises Framework for SROs in FinTech Sector
On 30th May, 2024, the Reserve Bank of India (RBI) released the final framework for recognising self-regulatory organisations in the financial technology sector (SRO-FT), encouraging entities to have a representative membership from the fintech sector.
Why did the RBI introduce this Framework?
- The RBI introduced this framework to promote self-regulation within the fintech industry, ensuring that decisions are made transparently and inclusively.
- The goal is to prevent a few dominant entities from controlling the sector and to foster a culture of responsible innovation and consumer protection.
What is a FinTech SRO?
- FinTech Self-Regulatory Organization (SRO-FT) refers to a self-regulatory body ....
Do You Want to Read More?
Subscribe Now
To get access to detailed content
Already a Member? Login here
Take Annual Subscription and get the following Advantage
The annual members of the Civil Services Chronicle can read the monthly content of the magazine as well as the Chronicle magazine archives.
Readers can study all the material since 2018 of the Civil Services Chronicle monthly issue in the form of Chronicle magazine archives.
Economy Watch
- 1 Ministry of Mines Classifies Limestone as Major Mineral Completely
- 2 New Initiatives to Boost Infrastructure Growth
- 3 Foreign Currency Settlement System for GIFT IFSC
- 4 Angel Funds: SEBI Extends Timeline to Disclose Allocation Methodology
- 5 RBI Grants Exemption to SWAMIH Fund-I
- 6 World Cotton Day 2025
- 7 First State Mining Readiness Index to Boost Mineral Sector Reforms
- 8 Securities Transaction Tax (STT)
- 9 Sundarbans SAIME Model Wins FAO Global Recognition
- 10 Changes in Per Drop More Crop Scheme: Strengthening Water Conservation and Farmers’ Income
