RBI drafts guidelines for self-regulatory organisations

The Reserve Bank of India (RBI) has introduced a draft framework for self-regulatory organizations (SROs) among entities it regulates. The framework emphasizes the importance of SROs fostering consumer protection, fair competition, transparency, and innovation. To qualify as an SRO, an entity must have sufficient authority to set and enforce ethical, professional, and governance standards. Jatinder Handoo, CEO of the Digital Lenders Association of India, acknowledges that the RBI has outlined a comprehensive framework covering critical aspects.

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