Finance world's question to self: Are there too many regulators within?

From fintech to urban cooperatives, a host of industry associations have expressed interest in becoming self-regulatory organisations

Just how many self-regulatory organisations (SROs) are too many? Last week, the Reserve Bank of India (RBI) capped the number of such entities for non-banking financial companies (NBFCs) at “a maximum of two”. And to ensure the smaller NBFCs get a fair voice, it said an SRO shall have at least 10 per cent of those in the “base layer” according to the scale-based regulatory framework. In one fell swoop, Mint Road set aside concerns of a proliferation of SROs among NBFCs, given the many kinds of entities at play here: From those into housing finance to