Comment on RBI's framework for Fintech SRO by Ashish Goyal, Cofounder & CFO, Fibe
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Below the Comment on RBI's framework for Fintech SRO by Ashish Goyal, Cofounder & CFO, Fibe
"This positive initiative by RBI is pivotal to fostering a balanced, innovative, and responsible fintech ecosystem. Being industry-led and built on a 'representative' structure will allow the self-regulatory organisation (SRO) to understand the nuances of the ecosystem much better and help in leveraging the collective expertise and experience of the members. This will lead to better and more feasible solutions for the industry players. It will also result in the development of standards that are practical, adaptive, and widely accepted within the fintech community. Overall SRO will enhance communication between the regulator and the industry manifold thereby ensuring continuous and responsible innovation that is a win-win for both the industry and customers."
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