11 months ago
RBI Grants SRO Status to FIDC for NBFC Sector
The Reserve Bank of India (RBI) has given a special role to the Finance Industry Development Council (FIDC).
This means FIDC can now help make sure companies in the NBFC sector (like those that give loans) follow the rules.
They'll also be a go-between for these companies and the government.
Last year, the RBI gave a similar role to another group for tech companies.
This helps make sure everything runs smoothly and fairly.
RBI granted SRO status to FIDC for the NBFC sector.
RBI had invited applications for SRO recognition in June last year.
Two other applications were not considered due to incompleteness.
SROs are expected to convey sector requests to the regulator and government.
SROs can impose penalties for violations.
- Who
- Reserve Bank of India (RBI) and Finance Industry Development Council (FIDC)
- What
- RBI granted self-regulatory organisation (SRO) status to FIDC.
- Where
- N/A
- When
- October 3, 2025
- Why
- To allow FIDC to communicate sector requests and ensure governance standards.
Key facts
- Organization Granted SRO Status
- Finance Industry Development Council (FIDC)
- Granting Authority
- Reserve Bank of India (RBI)
- Sector
- NBFC
- Date of Announcement
- October 3, 2025
- Previous SRO granted
- Fintech Association for Consumer Empowerment (FACE)
Quotes
RBI
The Reserve Bank of India
“Based on the examination, it has been decided to recognise FIDC as an SRO for NBFCs. The remaining two applications were not considered since they were incomplete as on the last date of submission of application.”
thehindubusinessline.com
