The India Fintech Foundation has launched a formal bid for being recognised as a self-regulatory organisation, becoming the second body to signal such intent.
If approved, the IFF will be the second SRO after the Fintech Association for Consumer Empowerment to get recognition from the RBI.
-
Indian Markets Turning Corner After Two Tough Years, Says Sandeep Tandon -
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI
"We're expecting an approval within four–five months," said Sai Sudha Chandrasekaran, chief executive officer at the India Fintech Foundation, on the sidelines of Startup Mahakumbh.
The IFF is founded by Fintech Convergence Council members, and the board includes Jupiter founder Jitendra Gupta, Fi Money founder Sujith Narayanan, Lendingkart founder Harshvardhan Lunia, OneCard founder Anurag Sinha and Siddarth Pai, founding partner and CFO of 3one4 Capital, among others.
Former RBI Deputy General and Axis Bank's non-executive chairperson NS Vishwanathan is also a part of IFF. "We've already onboarded roughly 100 members. We will be the nodal body for the entire fintech ecosystem, spanning payments, lending, wealthtech, insurtech, emerging areas such as DeFi, CBDC, and Web3," she added.
"We're here not to add to regulations but set the right standards for the industry."
The Reserve Bank of India has made it clear that the fintech sector, like the microfinance industry, has to self-regulate.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.