Banking industry, Compliance culture, Ethical standards, Financial sector innovation, Financial services sector, Governance, Independent board members, Industry standards, Regulatory authorities, Reserve Bank of India (RBI), Self-regulation, Self-Regulatory Organizations (SROs), Smaller entities representation, Transparent policies

Best Practices for Self Regulatory Organisations in the Financial Services Industry

May 22,2024

Self-Regulatory Organizations (SROs) in the banking and financial services industry play an important role in maintaining the integrity and stability of the sector. These entities, recognized by regul...

Account Aggregator (AA) system, Consent-based data sharing, Consumer empowerment, Creditworthiness, Data privacy, Digital financial transactions, Financial ecosystem, Financial inclusion, Interoperable framework, Operational Account Aggregators, Personal data control, Reserve Bank of India (RBI), Scalability

India's Account Aggregator Network: A Step Towards Simplified Financial Data Sharing

Mar 19,2024

The Account Aggregator (AA) system in India represents a significant step towards enhancing financial inclusion and streamlining the process of sharing financial data among institutions with the conse...

Charter of Customer Rights, Consumer empowerment, Digital banking, Ethical treatment of consumers, Financial consumer protection, Financial inclusion, Grievance Redress and Compensation, Reserve Bank of India (RBI), Right to Fair Treatment, Right to Privacy, Right to Suitability, Right to Transparency, Transparency in financial relationships

A Guide to Consumer Empowerment: The Role of RBI's Charter of Customer Rights

Feb 19,2024

The Reserve Bank of India (RBI) plays a pivotal role in safeguarding consumer interests in the banking and financial services sector. The RBI's Charter of Customer Rights stands as a testament to ...

Collaborative Environment, Draft Norms, Fintech Sector, Fintech Self Regulatory Organisation (SRO-FT), Forward-looking Fintech Ecosystem, Infrastructure, Innovation, Membership Eligibility, Not-for-profit Entities, Regulatory Authority, Regulatory Compliance, Regulatory Framework, Reserve Bank of India (RBI), Responsible Fintech Environment, Self-Regulatory Organizations (SROs), Stakeholder Engagement, Sustainable Growth, Transparency and Accountability, User Harm

RBI's Vision for Self-Regulatory Organizations in Fintech: A New Era of Governance

Feb 10,2024

In a significant move, the Reserve Bank of India (RBI) released its draft norms on January 15, outlining a visionary framework for Self-Regulatory Organizations (SROs) in the rapidly evolving fintech ...