To encourage self-regulation in the FinTech sector, the Reserve Bank of India (RBI) had released a 'Draft framework for recognising Self-Regulatory Organisations (SRO) for FinTech Sector' on January 15, 2024, inviting comments and feedback from the stakeholders. Based on the inputs received and examination thereof, the 'Framework for Recognising Self-Regulatory Organisation(s) for FinTech Sector' (SRO-FT framework) has been finalised and is enclosed.

2. In terms of the SRO-FT framework, the Reserve Bank intends to initiate the process of recognising SRO(s). Accordingly, entities meeting or intending to meet the eligibility conditions and requirements of the SRO-FT framework may submit an application form along with the required enclosures. The name(s) of applicant(s) found eligible for the "Recognition" will be published on the website of RBI.

(Puneet Pancholy)  
Chief General Manager

Press Release: 2024-2025/403