Mumbai, May 8 -- The Reserve Bank had issued the Framework for Recognition of Self-Regulatory Organisations in Financial Markets regulated by the Reserve Bank (Framework) and invited applications for recognition as Self-Regulatory Organisation (SRO) in financial markets. An application seeking recognition as an SRO in financial markets regulated by the Reserve Bank was received from the Fixed Income Money Market and Derivatives Association of India (FIMMDA). Based on an examination of the application against the relevant requirements under the framework, it has been decided to recognise FIMMDA as an SRO in financial markets regulated by the Reserve Bank.

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