RBI Guidelines for Fintech SRO
The Reserve Bank of India (RBI) finalized guidelines in 2023 for establishing self-regulatory organizations (SROs) in the fintech sector. These SROs will regulate and represent various fintech activities, including digital loans and P2P services. They will ensure data safety, enforce compliance, and manage risks like fraud. Multiple SROs are allowed, and membership is mandatory for fintech companies. SROs must effectively monitor and resolve complaints to maintain their status.
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