Financial Sector Legislative Reforms Commission

The revised draft of the Indian Financial Code (IFC), which proposes that any decision on monetary decision should be taken by majority by a seven-member committee without any veto power to the RBI chief, has created a furore and was seen as an attempt to curtail the central bank's autonomy.

The government on Friday set up a task force to prepare a roadmap for a Financial Redress Agency (FRA), which will deal with consumer grievances against all financial service providers.

Further, NBFCs should not outsource core management functions including internal audit, compliance function and decision-making functions like determining compliance with KYC norms for opening deposit accounts.

The move to set up a separate Public Debt Management Agency (PDMA) to manage market government borrowings and public debt and also a Monetary Policy Committee for inflation targeting may reduce the powers of the Reserve Bank of India, say analysts.

Adopting a key non-legislative recommendation of the Financial Sector Legislative Reforms Commission (FSLRC) for overhaul of financial sector regulatory framework, the Securities and Exchange Board of India (Sebi) is launching public consultation for framing rules to allow re-classification of promoters at listed firms looking to become public shar...

The Financial Sector Legislative Reforms Commission (FSLRC), chaired by Justice B N Srikrishna, has suggested a non-sectoral, principle-based approach to revamp the existing framework. Among various suggestions, the FSLRC has suggested creation of a unified financial sector regulator comprising SEBI, IRDA, FMC and part of RBI.

The government is considering a proposal to merge the Forward Markets Commission (FMC) with the Securities and Exchange Board of India (Sebi) to ensure better monitoring of the commodity futures market.

Former finance minister P Chidambaram on Tuesday said India can achieve 8 per cent growth in the next 2-3 years by following the path of fiscal prudence.

Pitching for greater transparency in rule-making and other functions of regulators, Finance Minister Arun Jaitley on Sunday asked the Securities and Exchange Board of India (Sebi) to work towards attracting more retail investors to the capital markets.

To energise capital markets, the government today proposed a slew of measures, including tax benefits and easier regulations for foreign investors and corporate bonds besides creating a new instrument Bharat Depository Receipts, helping BSE benchmark Sensex to jump 434 points.

The Reserve Bank of India (RBI) released timelines for regulatory approvals on Monday and said it will revert to the applicant if the deadline is likely to be exceeded.

"SBI, based on its loan portfolio and macro data, is now giving final shape to the construction of a conservative yet robust forward indicator (Manufacturing Index) for economic activity," SBI chairperson Arundhati Bhattacharya said at an event here.

Reserve Bank of India Governor Raghuram Rajan on Tuesday trashed the much talked about Financial Sector Legislative Reforms Commission (FSLRC) and described one set of its recommendations as "somewhat schizophrenic".

The government-appointed Financial Sector Legislative Reforms Commission (FSLRC) has recommended a slew of reforms to overhaul the sector.

A newly-constituted committee formed by the Reserve Bank of India (RBI) will look into capacity building and skill requirements at various levels of banking and financial services operations for effective delivery of services.

The revised draft of the Indian Financial Code (IFC), which proposes that any decision on monetary decision should be taken by majority by a seven-member committee without any veto power to the RBI chief, has created a furore and was seen as an attempt to curtail the central bank's autonomy.

The government on Friday set up a task force to prepare a roadmap for a Financial Redress Agency (FRA), which will deal with consumer grievances against all financial service providers.

Further, NBFCs should not outsource core management functions including internal audit, compliance function and decision-making functions like determining compliance with KYC norms for opening deposit accounts.

The move to set up a separate Public Debt Management Agency (PDMA) to manage market government borrowings and public debt and also a Monetary Policy Committee for inflation targeting may reduce the powers of the Reserve Bank of India, say analysts.

Adopting a key non-legislative recommendation of the Financial Sector Legislative Reforms Commission (FSLRC) for overhaul of financial sector regulatory framework, the Securities and Exchange Board of India (Sebi) is launching public consultation for framing rules to allow re-classification of promoters at listed firms looking to become public shar...

The Financial Sector Legislative Reforms Commission (FSLRC), chaired by Justice B N Srikrishna, has suggested a non-sectoral, principle-based approach to revamp the existing framework. Among various suggestions, the FSLRC has suggested creation of a unified financial sector regulator comprising SEBI, IRDA, FMC and part of RBI.

The government is considering a proposal to merge the Forward Markets Commission (FMC) with the Securities and Exchange Board of India (Sebi) to ensure better monitoring of the commodity futures market.

Former finance minister P Chidambaram on Tuesday said India can achieve 8 per cent growth in the next 2-3 years by following the path of fiscal prudence.

Pitching for greater transparency in rule-making and other functions of regulators, Finance Minister Arun Jaitley on Sunday asked the Securities and Exchange Board of India (Sebi) to work towards attracting more retail investors to the capital markets.

To energise capital markets, the government today proposed a slew of measures, including tax benefits and easier regulations for foreign investors and corporate bonds besides creating a new instrument Bharat Depository Receipts, helping BSE benchmark Sensex to jump 434 points.

The Reserve Bank of India (RBI) released timelines for regulatory approvals on Monday and said it will revert to the applicant if the deadline is likely to be exceeded.

"SBI, based on its loan portfolio and macro data, is now giving final shape to the construction of a conservative yet robust forward indicator (Manufacturing Index) for economic activity," SBI chairperson Arundhati Bhattacharya said at an event here.

Reserve Bank of India Governor Raghuram Rajan on Tuesday trashed the much talked about Financial Sector Legislative Reforms Commission (FSLRC) and described one set of its recommendations as "somewhat schizophrenic".

The government-appointed Financial Sector Legislative Reforms Commission (FSLRC) has recommended a slew of reforms to overhaul the sector.

A newly-constituted committee formed by the Reserve Bank of India (RBI) will look into capacity building and skill requirements at various levels of banking and financial services operations for effective delivery of services.