Financial Sector Legislative Reforms Commission (FSLRC) & Financial Sector Regulation in India
Bhagwati, Jaimini; Khan, M. Shuheb; Bogathi, Ramakrishna Reddy | June 2016
Abstract
The Financial Sector Reforms Commission (FSLRC) which was set up in 2011 by the Ministry of Finance was mandated to study existing legislation and financial sector regulatory practices in India and to propose improvements. The FSLRC submitted its report in 2013 and four of its members recorded dissenting notes. This paper examines the changes in regulation in four G7 countries post the financial sector breakdown of 2008 and suggestions made by the Financial Stability Board with respect to e.g. capital adequacy, shadow banking and accounting. The paper also reviews the current levels of development of the Indian banking, capital markets, pensions and insurance sub-sectors and past episodes of egregious wrong doing. The last section of the paper examines and comments on the principal FSLRC proposals to further develop India’s financial sector, regulate it better and protect consumers. The dissenting notes of four FSLRC members are also covered in this section followed by conclusions.
Citation
Bhagwati, Jaimini; Khan, M. Shuheb; Bogathi, Ramakrishna Reddy. 2016. Financial Sector Legislative Reforms Commission (FSLRC) & Financial Sector Regulation in India. © Indian Council for Research on International Economic Relations. http://hdl.handle.net/11540/9101.Keywords
Development
Finance
Development Challenges
Development Issues
Development Problems
Microenterprises Finance
Commercial Finance Companies
Enterprise Financing
Financial Analysis
Banking Finance And Investment
SMEs
Rural planning
Economic development
Economic indicators
Standard of living
Development projects
Development policy
Housing projects
Development models
Social reform
Urban planning
Public Borrowing
Credit Policy
Banks
ADB
Project finance
Development plans
Strategic planning
Business Financing
Investment Requirements
Insurance Companies
International Monetary Relations
International Financial Market
Exchange Rate
Cultural Development
Development Economics
Development Issues
Financial Sector Development
Infrastructure Development
Urban Development Finance
Financing
Financial System
Financial Sector Reform
Financial Institution
Bank Financing
Insurers
Insurance stocks
Insurance holding companies
Insurance carriers
Insurance agencies
Business subsidies
Investment companies
International banks and banking
Stock exchanges
Grants
Loans
Interest Rates
Real estate development
Housing development
Community banks
Mortgage banks
Housing policy
Tax administration and procedure
Real property and taxation
Property tax
Credit control
Banks and banking
Title companies
Tax deductions
Accounts
Savings
Inheritance and transfer tax
Trusts and trustees
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Citable URI
http://hdl.handle.net/11540/9101Metadata
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