RBI Recognises ‘FIMMDA’ as a SRO in Financial Markets

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  • Last Updated on 9 May, 2025

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FIMMDA SRO recognition

Press Release: 2025-2026/274, Dated: 07.05.2025

The Reserve Bank of India (RBI) has officially recognised the Fixed Income Money Market and Derivatives Association of India (FIMMDA) as a Self-Regulatory Organisation (SRO) for entities operating in the financial markets regulated by the central bank.

1. Background and Basis of Recognition

This recognition follows a thorough evaluation of FIMMDA’s application under the RBI’s Framework for Recognition of Self-Regulatory Organisations, which sets out the eligibility, governance standards, and operational criteria for such recognition.

2. Significance of the Move

  1. Enhanced Oversight and Governance – As an SRO, FIMMDA will play a pivotal role in promoting ethical conduct, standardisation of practices, and compliance among its members, which include participants in the fixed income, money market, and derivatives segments.
  2. Market Discipline and Development – The recognition is aimed at fostering greater self-discipline and accountability within the financial market ecosystem. It also empowers FIMMDA to issue guidelines, enforce codes of conduct, and support orderly market development in alignment with regulatory expectations.
  3. Support for Regulatory Objectives – By acting as a bridge between the regulator and market participants, FIMMDA’s role as an SRO will help in better dissemination of regulatory changes, feedback collection, and implementation of best practices across the sector.

3. Way Forward

The recognition underscores the RBI’s intent to promote a more structured and participatory regulatory environment by leveraging industry-led initiatives. FIMMDA’s elevation to an SRO status is expected to contribute significantly to the maturity and transparency of India’s debt and derivatives markets.

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Author: Taxmann

Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.

The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:

  • The statutory material is obtained only from the authorized and reliable sources
  • All the latest developments in the judicial and legislative fields are covered
  • Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
  • Every content published by Taxmann is complete, accurate and lucid
  • All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
  • The golden rules of grammar, style and consistency are thoroughly followed
  • Font and size that's easy to read and remain consistent across all imprint and digital publications are applied