Comments on the “Draft Omnibus Framework for Recognizing Self-Regulatory Organisations (SROs) for Regulated Entities (REs) of the Reserve Bank of India”

The Reserve Bank of India (RBI) released the Draft Omnibus Framework for recognizing Self- Regulatory Organisations for Regulated Entities of the Reserve Bank of India (Draft Framework) for public comments on December 21, 2023. The Esya Centre is pleased to be afforded an opportunity to respond to the Draft Regulations. Our response is divided into two parts. Part I provides a preliminary overview of our response and Part II delves deeper into specific aspects of the regulations, such as the need for precise definitions of regulated entity categories, clarity on the number of self-regulatory organisations per category, necessity of defined timelines for RBI decisions, and the inclusion of civil society organisations in the framework's functioning.

Attribution: Comments on the “Draft Omnibus Framework for Recognizing Self-Regulatory Organisations (SROs) for Regulated Entities (REs) of the Reserve Bank of India”. Issue No. 114, January 2024, Esya Centre.