Which group of entities has the RBI encouraged to form Self-Regulatory Organizations?
Fin-Tech Firms.
2023 September
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4.25/5 |
Recently, the Reserve Bank of India (RBI) urged fintech companies to create Self-Regulatory Organizations (SROs). These SROs act as non-governmental organizations tasked with developing and upholding sector-specific codes of conduct for openness, competitiveness, and consumer protection. They would serve as a go-between for market participants and regulators.