Arun Jaitley to address boards of RBI, Sebi on March 12

The address of the finance minister comes in the backdrop of the government's announcement of meeting current year's fiscal deficit target and sticking to the target of 3.5 percent.
  • Language
  • App
  • Subscriptions
  • Specials
  • Sign-In
  • Register
GeStepAhead master your money SME Special
moneycontrol.com

Home » News » Economy

Mar 02, 2016, 08.54 AM | Source: PTI

Arun Jaitley to address boards of RBI, Sebi on March 12

The address of the finance minister comes in the backdrop of the government's announcement of meeting current year's fiscal deficit target and sticking to the target of 3.5 percent.

Like this story, share it with millions of investors on M3

Arun Jaitley to address boards of RBI, Sebi on March 12

The address of the finance minister comes in the backdrop of the government's announcement of meeting current year's fiscal deficit target and sticking to the target of 3.5 percent.

Post Your Comments

Share Cancel

Arun Jaitley to address boards of RBI, Sebi on March 12
Finance Minister Arun Jaitley will address the boards of Reserve Bank and Securities and Exchange Board of India on March 12, to discuss various financial sector reforms announced in Budget 2016-17.

The address of the finance minister comes in the backdrop of the government's announcement of meeting current year's fiscal deficit target and sticking to the target of 3.5 percent.

The minister would first address the board of Sebi and then RBI in Delhi on March 12, sources said.

It has been a custom that the finance minister addresses RBI board, consisting of RBI governor and existing three deputy governors, after the Budget.

Jaitley, who presented the Budget on Monday, is likely to inform the boards of both the regulators about various financial sector reforms announced including proposal to amend the RBI Act for setting up of a Monetary Policy Committee (MPC) which will fix the benchmark interest rate of the central bank and set inflation targets.

Besides, he proposed to provide Rs 25,000 crore and if needed more to public sector banks to strengthen their balance sheets.

To tackle the problem of stressed assets in the banking sector, Asset Reconstruction Companies (ARCs) have a very important role.

He proposed to make necessary amendments in the SARFAESI Act 2002 to enable the sponsor of an ARC to hold up to 100 percent stake in the ARC and permit non-institutional investors to invest in securitization receipts.

With regard to capital market, Jaitley announced setting up of an electronic auction platform by Sebi for primary debt offer.

The enactment of Insolvency and Bankruptcy Code would provide a major boost to the development of the corporate bond market.

To check the ponzi menace, the government also proposed to come out with a comprehensive central legislation to safeguard the public from getting defrauded by illicit deposit taking schemes.

Budget 2016-17 also proposed to amend the Sebi Act 1992 in the coming year to provide for more members and benches of the Securities Appellate Tribunal.

Ads by Google

Buy, Hold, Sell ? Hear it first on M3
Arun Jaitley to address boards of RBI, Sebi on March 12

See all

Get started using your favorite social network

or

Login using moneycontrol ID

Username
Password

Need help logging in? Reset password.

Don´t have an account? Sign Up

Get started using your favorite social network

or

Simply sign up using this short form

* mandatory

UserName*

Username should be atleast 4 character

Password*

Password should be 8 or more characters,
atleast 1 number, 1 symbol & 1 upper case letter

Alert

Your Password should contain
  • 8 or more characters
  • At least 1 number
  • At least 1 symbol
  • At least 1 upper case letter
Confirm Password*
Email
Already have an account? Login