The Reserve Bank of India (RBI) on December 21, 2023, invited comments on the ‘Draft Omnibus Framework for Recognizing Self-Regulatory Organizations for its Regulated Entities’
The draft omnibus framework contains broad parameters applicable to any Self-Regulatory Organisation (SRO) viz., objectives, responsibilities, eligibility criteria, governance standards, application process and other basic conditions for grant of recognition to the SRO.
The comments/feedback from the stakeholders and members of the public on the above draft omnibus framework may be submitted by January 25, 2024, through email.
A final omnibus framework shall be issued after considering the stakeholder comments. Reserve Bank shall issue separate notifications inviting applications for SROs for a category/class of its REs, within the broad contours of the final omnibus framework.
The Link for the draft - https://www.rbi.org.in/Scripts/PublicationReportDetails.aspx?UrlPage=&ID=1247
[Press Release: 2023-2024/1519]
