The Reserve Bank of India (RBI) has selected Fintech Association of Consumer Empowerment (FACE) as the Self Regulatory Organisation (SRO) for the Fintech industry.
“Three applications for recognition as SRO-FT have been received. Each application was examined against the relevant requirements under the framework,” RBI said.
“It has been decided to recognise the Fintech Association for Consumer Empowerment (FACE) as an SRO-FT. Of the remaining two applications, one application has been returned with a provision for resubmission after meeting certain requirements. The third application is under examination,” the regulator added.
