Reserve Bank of India (RBI) has called upon fintech companies to form a self-regulatory body. The central bank is encouraging the industry to take proactive steps in overseeing its operations.
This move aims to enhance governance and compliance within the rapidly evolving fintech sector. By establishing a self-regulatory framework, the RBI seeks to strike a balance between fostering innovation and ensuring responsible practices. The call reflects the growing importance of fintech in the financial landscape and the need for collaborative efforts to address emerging challenges.