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The SRPA was an entity floated by industry association Payments Council of India (PCI) to qualify as an SRO under the RBI’s framework.
Once approved, India Fintech Foundation (IFF) will be the second Fintech-SRO after Fintech Association of Consumer Empowerment (FACE).
In its notification, the central bank said that the interested parties should apply through the PRAVAAH portal before June 15.
As of September 2024, the total assets under management (AUM) reported by 28 FACE member companies stood at Rs 51,537 crore.
