The Reserve Bank of India said on Wednesday that it has recognised the Fintech Association for Consumer Empowerment as a self-regulatory organisation for the fintech sector.
Out of the three applicants, the central bank returned one application with instructions for resubmission after meeting specific requirements, the country's central bank said in a media statement, adding that the third application is still under review.
In June, the RBI invited applications for recognising fintech SROs.
(This is a developing story.)
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