RBI Finalizes Omnibus Framework for Recognizing Self-Regulatory Organizations for Regulated Entities
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- Last Updated on 23 March, 2024
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Press Release No. 2023-2024/2085; Dated: 21.03.2024
The RBI has now finalized the Omnibus Framework for recognising Self-Regulatory Organisations (SRO) for Regulated Entities. The omnibus framework contains broad parameters viz., objectives, responsibilities, eligibility criteria, governance standards, application process and other basic conditions for grant of recognition, which will be common for any SRO proposed to be recognized by the RBI.
Further, other sector-specific guidelines like the number of SROs, membership, etc. must be issued separately by the respective departments of the RBI, wherever a sectoral SRO is intended to be set up.
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