FIDC to oversee NBFCs as ‘self-regulatory body’
The Reserve Bank of India has officially designated the Finance Industry Development Council (FIDC) as the self-regulatory organisation (SRO) for Non-Banking Financial Companies (NBFCs). This pivotal move aims to significantly enhance compliance, stimulate innovation, and drive overall sector growth. The decision follows a rigorous application process, with FIDC being the sole successful applicant.
The Reserve Bank of India has officially designated the Finance Industry Development Council (FIDC) as the self-regulatory organisation (SRO) for Non-Banking Financial Companies (NBFCs). This pivotal move aims to significantly enhance compliance, stimulate innovation, and drive overall sector growth. The decision follows a rigorous application process, with FIDC being the sole successful applicant.
