The Reserve Bank of India (RBI) has established comprehensive guidelines for the self-regulation of fintech companies operating in the country. These norms aim to foster a transparent and accountable ecosystem, ensuring consumer protection and the ethical use of data.
The guidelines emphasize compliance with existing financial regulations, robust cybersecurity measures, and the need for fintech firms to adhere to fair business practices. By promoting self-regulation, the RBI seeks to support innovation in the fintech sector while maintaining financial stability and safeguarding user interests.
This move is expected to enhance trust and credibility within the rapidly growing fintech industry in India.
