What is the SLMA?
SLMA is a self-regulatory body formed as per directions of the Reserve Bank of India with the primary objective to promote the growth of the secondary market for loans in India, which it endeavours to do by formulating rules and best practices for loan trading, promulgating a suite of standard documents; engaging with regulators on key matters affecting loan markets; organising conferences and knowledge sharing events and providing a professional networking platform for members. A professional association representing the interests of institutions involved in the secondary market for loans in India, SLMA was incorporated in August 2020 by 10 major Public, Private and Foreign Banks in accordance with the recommendation of the Task Force formed for the development of secondary market for loans. SLMA is empowered to issue rules and guidelines to promote the development of the secondary loan market.