• A Self-Regulatory Organization (SRO) is designed to oversee a specific industry or sector and is empowered to enforce industry rules and standards. These organizations operate under the guidelines set by a higher regulatory authority, like the Securities and Exchange Board of India (SEBI) or the Reserve Bank of India (RBI).
• Fintech SROs are specific types of SROs that regulate financial technology firms, ensuring they follow ethical practices, comply with laws, and protect the interests of consumers. The minimum net worth required for an entity to be recognized as a Fintech SRO is Rs. 2 crore.
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