Large financial institutions may get a new regulatory structure
By Ankit Sharma
Jul 21, 2010
Print    Email    RSS   

Government has come up with a new proposal for redefining the regulatory structure of large financial institutions. The proposal suggests setting up "a college of supervisors". This college would comprise of representatives from several regulatory agencies.

The discussion paper on the establishment of the Financial Stability and Development Council (FSDC) has said that these large financial bodies have a big role to play in the financial services sector.

Big names like State Bank of India, ICICI Bank, HDFC Bank are regulated by Reserve Bank of India. But RBI only regulates the banking arms of these entities which have now diversified themselves into the insurance, mutual funds, pension management companies and many other segments.

"At present, each of these (institutions) have numerous subsidiaries operating in all the silos of Indian finance. Each regulator sees one or more subsidiaries operating in its silo. However, the overall picture is not fully known to any arm of government/regulatory agencies," the report says.

Finance Minister Pranab Mukherjee had announced the setting up of the FSDC in Budget 2010-11.


(Comments Posted : 0) Post Your Comments
Show All Comments
 Select a product:

 Select a product:

Travel Credit Cards in India: A Comparison
Internet banking: does it put your money...
A Good credit score imperative for your...
Free insurance policies with credit cards
Be familiar with your Cash-Back Credit Card

Daawat*Call giℛℒ escort In ZiRaKpUr OOOOOOOOOO...
Good Morning, i forgot my FCMB Account Number and...
Radhey@09646870399 @Escoℛts In#Chandigarh...

91st Founders day of the Karnataka Bank Feb 18, 2015
Banks on strike from 25th February Feb 16, 2015
SBT bank postponed the Open House meet Feb 13, 2015
Yes bank planning to line up for credit card portfolio Feb 12, 2015
Pocket banking – new app by ICICI bank Feb 11, 2015
News Archive