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Below the Views on FinTech SRO and the RBI's latest lending guideline by Mr. Nirav Choksi, CEO and Co-Founder, CredAble

“From developing purpose-built solutions to carving out profitable niches and exploring foreign markets — FinTechs in India are entering a new era of value creation. This high level of innovation has raised the stakes, necessitating industry-centric regulation. The RBI's framework for Self-Regulatory Organizations (SROs) is a step in the right direction to enhance the credibility of the FinTech sector under the oversight of the RBI. The self-regulatory model has multiple benefits to offer. Apart from ushering in self-discipline and fostering a culture of self-governance, representative organizations for FinTechs can take on the role of SROs and create an environment conducive to aiding the organized and sustainable development of the FinTech sector. The SRO framework is designed to ensure that FinTechs adhere to high standards of transparency and accountability. FinTech companies need to view such regulatory compliances as a strategic enabler of innovation and embed compliance considerations into every stage of the innovation lifecycle.”

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