About Self-Regulatory Organisation:
- It is a non-governmental organisation that sets and enforces rules and standards relating to the conduct of entities in the industry (members).
- Aim: Protecting the customer and promoting ethics, equality, and professionalism.
- These typically collaborate with all stakeholders in framing rules and regulations.
What are the functions of an SRO?
- The recognised SRO will serve as a two-way communication channel between its members and the RBI.
- It will work towards establishing minimum benchmarks and standards and help instil professional and healthy market behaviour among its members.
- These will impart training to the staff of its members and others and will conduct awareness programmes.
- It will establish a uniform grievance redressal and dispute management framework across its members.
