Archive · 14 Jan 2026
RBI Recognizes FEDAI as Self-Regulatory Organization
The Reserve Bank of India (RBI) has officially recognized the Foreign Exchange Dealers’ Association of India (FEDAI) as a Self-Regulatory Organisation (SRO).
This means FEDAI will now oversee the conduct of all Authorised Dealers in foreign exchange.
FEDAI has been around since 1958 and has been setting rules for banks dealing in foreign exchange.
The RBI has given FEDAI one year to update its rules and include all types of Authorised Dealers as members.
This change aims to improve the governance and functioning of the foreign exchange market in India.
RBI recognizes FEDAI as an SRO for all Authorised Dealers.
FEDAI has been functioning similarly to an SRO since its establishment in 1958.
FEDAI must align its governance framework with the Omnibus SRO framework within one year.
FEDAI is required to extend its membership to all categories of Authorised Dealers.
FEDAI was incorporated under Section 25 of The Companies Act, 1956.
- Who
- Reserve Bank of India (RBI) and Foreign Exchange Dealers’ Association of India (FEDAI)
- What
- RBI recognizes FEDAI as a Self-Regulatory Organisation (SRO)
- When
- January 14, 2026
- Where
- India
- Why
- FEDAI has been functioning akin to an SRO and needs to align with the Omnibus SRO framework
- Organization
- Foreign Exchange Dealers’ Association of India (FEDAI)
- Regulatory Body
- Reserve Bank of India (RBI)
- Framework
- Omnibus Framework for SROs
- Membership Requirement
- All categories of Authorised Dealers
- Establishment Year
- 1958
- Legal Incorporation
- Section 25 of The Companies Act, 1956
- Deadline for Compliance
- One year