RBI recognizes UFF as an SRO-FT under the fintech self-regulatory framework

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Parshwa Turakhiya

10.09.2026

RBI recognizes UFF as an SRO-FT under the fintech self-regulatory framework — RBI grants UFF SRO-FT recognition

Expanding the self-regulatory framework for India’s fintech sector, the Reserve Bank has recognized the Unified Fintech Forum (UFF) as a Self-Regulatory Organisation in the FinTech Sector (SRO-FT). Previously, in August 2024, the RBI had granted FinTech Association for Consumer Empowerment (FACE) the first SRO-FT recognition in the sector.

Highlights

RBI officially recognized UFF, CIN No. U91990KA2016NPL096977, as an SRO-FT following the required regulatory review.
Recognizing UFF has expanded the self-regulatory framework and entry platform for the fintech industry, providing the sector with better dialogue and compliance support.
UFF became the second recognized SRO-FT after FACE, strengthening industry recognition, consumer interests, and regulatory coordination in the fintech sector.

This article was translated from the original. Read the original version by our correspondent here.

Recognition process and regulatory decision

According to the RBI press release 2026-2027/1088, the central bank received an application from UFF for recognition as an SRO-FT, which was assessed based on the requirements of the relevant framework. Following this review, the RBI decided to recognize UFF, CIN No. U91990KA2016NPL096977, as an SRO-FT.

This move advances the establishment of a formal self-regulatory institutional framework in the fintech sector. The RBI granted FACE the first recognition in this category through a press release dated August 28, 2024.

Potential impact on the fintech sector

UFF’s recognition broadens the self-regulatory framework for the fintech industry and provides an additional recognized platform for industry participation. It is expected to offer institutional support for compliance, dialogue, and alignment with regulatory expectations across the sector.

Amid the expanding scope of fintech activities in India, the presence of more than one recognized SRO-FT could make industry representation more structured. This arrangement is considered important for strengthening consumer interests, sectoral standards, and regulatory coordination.

RBI imposes a monetary penalty on Equifax Credit Information Services was the focus of our previous report, in which the central bank imposed a fine of Rs 1 crore for deficiencies in the effective implementation of the compliance framework related to the prevention of money laundering and terrorist financing. We noted that this action underscores the RBI’s strict compliance message for the entire financial sector, aimed at maintaining system integrity, consumer trust, and confidence in the financial system.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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