Question

The Reserve Bank of India (RB

  • I has issued a framework for recognizing Self-Regulatory Organizations (SROs) in the financial technology sector (SRO-F
  • T . According to the guidelines, fintech entities regulated by the RBI are encouraged to join at least one SRO-FT. Which of the following statements is correct regarding the framework?
A SRO-FT membership is mandatory for all fintech entities regulated by the RBI.
B Banks and all other RBI-regulated entities are eligible to become members of SRO-FTs.
C Multiple SRO-FTs can be formed, and fintech entities are encouraged to join at least one.
D Fintech entities are restricted from holding membership in more than one SRO-FT.
E Only payment and settlement system operators are permitted to join SRO-FTs.
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