Legal Advisor! • 1y
The RBI released a framework for self-regulatory organizations (SROs) in the fintech sector to balance innovation with regulatory compliance. Key points: •SROs must represent the fintech sector, including RBI-regulated entities, facilitating self-governance. •They should be independent, objective, setting standards, monitoring compliance, penalizing violations, and resolving disputes fairly. •Eligibility criteria include being a non-profit, sufficient net worth, robust IT systems, and managing risks. •SROs perform developmental roles like training, research, assisting smaller firms, and promoting compliance culture. •They are the sector's voice to RBI, sharing data, violation updates, consulting on taxonomy etc. The RBI oversees them. •High governance standards with transparency, independent directors, skilled resources. RBI can nominate observers. This enables fintech self-regulation under RBI oversight, harmonizing innovation with responsible practices in this sector.
Finance Geek | Conte... • 8m
The Future of Fintech in India India's fintech sector has experienced rapid growth, driven by technological advancements, increasing smartphone penetration, and government initiatives. The country's large population and diverse demographics offer a s
See MoreFinance Geek | Conte... • 1y
The Rise of Fintech in Bangalore: Trends and Opportunities * Trends: Mobile payments, digital lending, insurtech, blockchain, wealth management, regulatory sandbox. * Opportunities: Financial inclusion, increased access to credit, personalized fina
See MoreFounder at Stockware • 8m
Navi Finserv Ordered to Cease Loan Disbursement by RBI 🚨 In a recent development, Navi Finserv, the NBFC arm of Sachin Bansal’s Navi Technologies, has been ordered by the Reserve Bank of India to cease and desist from sanctioning and disbursing loa
See MoreBuilding JalSeva and... • 8m
❗❗Important For All ❗❗ A $450 million Indian startup, Zest Money, shut down due to strict RBI regulations, highlighting the risks of external factors in business. 🚀 $450 million valuation: Zest Money was a leading player in the buy now pay later s
See MoreHey I am on Medial • 3d
Certified ISO 13485 Internal Auditor with 6+ years of comprehensive experience in Quality Assurance (QA) within the medical device industry. Proven expertise in implementing and maintaining Medical Device Quality Management Systems (MDQMS) as per ISO
See MoreUnfiltered and real ... • 4m
Are Startup IPOs Truly Creating Wealth—or Just Exit Liquidity for Founders and VCs? India has seen a wave of startup IPOs over the last three years - 23 companies went public, promising innovation, disruption, and wealth creation. But have they tru
See MoreDownload the medial app to read full posts, comements and news.