Omnibus Framework for recognition of Self-Regulatory Organisations for Regulated Entities of the Reserve Bank

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Summary:

The Reserve Bank of India (RBI) has finalized the Omnibus Framework for recognizing Self-Regulatory Organisations (SROs) for its Regulated Entities. The framework outlines broad parameters for SRO recognition, including objectives, responsibilities, eligibility criteria, governance standards, application process, and basic conditions for recognition. These parameters will be common for all SROs proposed to be recognized by the RBI. Sector-specific guidelines will be issued separately by the respective departments of the RBI for setting up sectoral SROs.

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