India s fintech industry is largely unregulated, and issues around data privacy, cyber security and grievance handling have cropped up frequently.The SRO is expected to put in place a code of conduct to foster transparency, fair competition and consumer protection
The main idea behind the guidelines is to empower the fledgling sector to function and innovate responsibly, even in the absence of formal regulations.
Data from last year, sourced from asset management companies, showed that on an average SIPs through platforms such as Groww, PhonePe and ET Money ranged between Rs 1,500 to Rs 2,500 against Rs 5,000 for traditional firms.