Finance lobby groups will need to make cultural shift as they become SROs

Finance lobby groups in India are undergoing a significant cultural shift as they transition into self-regulatory organisations (SROs), with the Reserve Bank of India (RBI) expecting them to act as a bridge between regulators and industry players. Anish Mashruwala, partner at JSA Advocates and Solicitors, notes that the idea of SROs is not to increase regulation but to allow for more decentralization, enabling industries to develop best practices. With multiple SROs emerging, coordination between them will be crucial, particularly for financial conglomerates with multiple businesses. The transition requires SROs to prioritize public interest, maintain objectivity, and demonstrate behavioural transparency. Read Article