RBI Granted SRO Status to Finance Industry Development Council

Current Context: On 3 October 2025, the Reserve Bank of India (RBI) granted Self-Regulatory Organisation (SRO) status to the Finance Industry Development Council (FIDC), the representative body of NBFCs.

• This recognition empowers FIDC to oversee compliance, discipline, and best practices among NBFC-ICCs, NBFC-Factors, Housing Finance Companies, and Infrastructure NBFCs.
• With nearly 400 members, FIDC will now function as an extended arm of RBI in strengthening governance and customer protection.
• The move is expected to enhance transparency, accountability, and stability in the NBFC sector.
• FIDC CEO Raman Aggarwal termed it a “red-letter day” for the industry, marking a new era of self-regulation and responsible growth.

Question:

Q.1 What is the full form of FIDC, which recently received SRO status from the RBI?
a) Financial Institutions Development Council
b) Finance Industry Development Council
c) Financial Infrastructure Development Corporation
d) Finance and Investment Development Council

Answer: b) FIDC stands for Finance Industry Development Council, the apex representative body of Non-Banking Financial Companies (NBFCs), now recognised by the RBI as a Self-Regulatory Organisation (SRO).