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ARTICLE · 30 AUGUST 2024

AKP Banking & Finance Digest- August 26, 2024

AK & Partners
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The Reserve Bank of India ("RBI") has unveiled a comprehensive framework for recognising Self-Regulatory Organizations ("SROs") within financial markets. This initiative aims to enhance market participants.

IndiaFinance and Banking
Anuroop Omkar
Anuroop Omkar

1. Regulatory Updates

1.1. India

1.1.1. RBI unveils new SRO framework for financial markets

The Reserve Bank of India ("RBI") has unveiled a comprehensive framework for recognising Self-Regulatory Organizations ("SROs") within financial markets. This initiative aims to enhance market participants' integrity, professionalism, and compliance by establishing clear SRO governance and responsibilities guidelines. Under this framework, SROs will develop and enforce industry standards, promote ethical conduct, and support regulatory compliance. The RBI's framework outlines eligibility criteria, governance standards, and the application process for entities seeking SRO status. This move is expected to bolster financial market stability and foster innovation while ensuring fair practices and effective self-regulation. RBI

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