 "SRO, self-regulatory organisations")
Mint Road, on December 21, 2023, flagged the role of self-regulatory organisations (SROs) in strengthening the compliance culture in regulated entities (REs) and providing a consultative platform for policymaking. It also decided to issue an omnibus framework for SROs.
In the financial technology (fintech) sector, the Fintech Association for Consumer Empowerment has received the Reserve Bank of India’s (RBI’s) nod for an SRO; another applicant is the Digital Lenders Association of India (DLAI). There have been whispers that the Indian Banks’ Association and the Payments Council of India are also to jointly set up an SRO for digital payments. Then,
