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RBI Grants Self-Regulatory Organisation (SRO) Status to Finance Industry Development Council (FIDC).

Banking & Finance | Dated: 07 Oct 2025

In October 2025, the Reserve Bank of India (RBI) granted Self-Regulatory Organisation (SRO) status to the Finance Industry Development Council (FIDC), the representative body of asset and loan financing Non-Banking Financial Companies (NBFCs). This recognition was given under RBI’s ‘Omnibus Framework for Recognition of SROs for Regulated Entities,’ issued on March 21, 2024.

🎯 Key Highlights:

  • - FIDC’s recognition as an SRO aligns with the RBI’s Omnibus Framework, which aims to promote accountability, ethical practices, and compliance among regulated financial entities. This marks a key regulatory development to strengthen the NBFC ecosystem in India.
  • - As an SRO, FIDC will frame and implement a code of conduct, monitor regulatory adherence, and coordinate with the RBI to resolve sectoral challenges. It will act as a bridge between the industry and the regulator to promote transparency and fair practices.

💡 Other Important Facts:

  • (i) FIDC represents nearly 400 NBFCs engaged in asset and loan financing across India. Membership to the SRO will remain voluntary, allowing eligible NBFCs to join the body for better governance and representation.
  • (ii) Raman Aggarwal, former Director of FIDC, has been appointed as the Chief Executive Officer (CEO) to lead the organization in its expanded role as a Self-Regulatory Organisation.
  • (iii) Prior to FIDC, the RBI had granted SRO status to two microfinance entities—Sa-Dhan and the Microfinance Institutions Network (MFIN)—and to the Fintech Association for Consumer Empowerment (FACE) for the fintech sector, reflecting RBI’s broader move toward sector-wise self-regulation.

📚 Test Your Knowledge:

Which organisation has recently been granted the status of Self-Regulatory Organisation (SRO) by the Reserve Bank of India (RBI)?

Correct Answer: FIDC

🚀 Quick Recap:

About RBI

  • Governor : Sanjay Malhotra
  • Headquarter : Mumbai