FSDC sub committee takes stock of regulatory gaps in NBFCs
Published on Tue, May 24, 2011 at 21:36 | Source : CNBC-TV18
Updated at Wed, May 25, 2011 at 10:57
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FSDC sub committee takes stock of regulatory gaps in NBFCs
The sub committee of the Financial Stability Development Council (FSDC) met on Tuesday. The committee, which was chaired by RBI governor, reviewed macroeconomic and financial sector developments in the country. Chiefs of all the other regulators were also present in the meeting.
The sub committee of the Financial Stability Development Council (FSDC) met on Tuesday. The committee, which was chaired by RBI governor, reviewed macroeconomic and financial sector developments in the country. Chiefs of all the other regulators were also present in the meeting.
The sub committee discussed concerns rising from regulatory gaps in the non-banking financial corporation (NBFC) sector. They also discussed the need for a strong reporting platform for over-the-counter derivatives market and investment in mutual funds by FIIs.
Strengthening the framework for wealth management activities was also on agenda.
Confirming the same Yogesh Aggarwal, chairman, PFRDA, said, "It was discussed that wealth transfer services need to be better regulated."
