RBI Empowers FIDC as Self-Regulatory Organisation to Oversee NBFCs

The Reserve Bank of India (RBI) has officially granted Self-Regulatory Organisation (SRO) status to the Finance Industry Development Council (FIDC) — marking a major reform in NBFC supervision. Under RBI’s Omnibus SRO Framework (2024), FIDC will now guide and monitor NBFCs by promoting ethical standards, regulatory compliance, and early risk detection across the sector. While membership remains voluntary, this move strengthens industry self-discipline and eases RBI’s supervisory load, enhancing transparency and accountability in the financial ecosystem.

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