Financial Sector Legislative Reforms Commission

The web of the finance ministry and the RBI on regulation of PSBs is making things murkier.

'Govt to take view on Financial Code after public comments'

The draft had proposed taking away Reserve Bank chief's authority to veto the interest rate decision of the central bank's monetary policy committee.

Sebi needs more powers to deal with FMC issues: FSLRC chief

The government has recently proposed to amend the Reserve Bank of India (RBI) Act to take away money market regulatory powers from the central bank and bring it under the purview of market regulator Sebi.

RBI norms to protect interests of consumers soon

"The Financial Sector Legislative Reforms Commission (FSLRC) report recommends adoption of consumer protection framework that will empower and require regulators to ensure consumer protection for the financial activities regulated by them," RBI Executive Director N S Vishwanathan said.

Modified draft Indian Financial Code likely by mid-2015

The Financial Sector Legislative Reforms Commission, chaired by Justice B N Srikrishna, has suggested a non-sectoral, principle-based approach to revamp the existing framework.

'Final decision on FSLRC after consulting all stakeholders'

The Commission, headed by former Justice B N Srikrishna, presented its report to the government on March 22, 2013. It had suggested merging of financial sector regulators such as Sebi and Irda into a Unified Financial Agency (UFA) and the role of RBI be restricted to regulating banks and managing monetary policy.

Srikrishna panel submits report on new India financial code

The Justice Srikrishna headed Financial Sector Legislative Reforms Commission (FSLRC) today submitted its report to finance minister P Chidambaram.

Seeking a Unified Market Regulator

A government-appointed commission hopes to restructure India‘s financial regulatory architecture.

RBI should send suggestions on FHC model to FSLRC: Experts

Banks should not own mutual funds or insurance companies as subsidiaries. Instead, an RBI panel has recommended that financial conglomerates be structured so that a holding company is created with 3 distinct arms - the bank, the insurance company, and the mutual fund.

Panel on new financial sector laws to meet on June 6

Amid rising scams and global economic worries, the high-profile panel on re-writing the country's financial sector rules will meet on June 6 to discuss ways to strengthen regulatory oversight.

FSLRC: What to Expect?

Financial Sector Legislative Reforms Commission (FSLRC) was notified by the Government on March 24, 2011 pursuant to an announcement made by the Finance Minister in the 2010-11 Budget.

Will seriously consider formation of a financial sector super-regulator: FSLRC chairman

Financial Sector Legislative Reforms Commission chairman Justice BN Srikrishna told CNBC-TV18’s economic policy editor Siddharth Zarabi that he will seriously consider the formation of a financial sector super-regulator.

Panel to rewrite financial sector laws will meet on April 5

The finance ministry has said that the FSLRC panel meet will be held for the first time on April 5 and it will be headed by Justice BN Srikrishna. FSLRC will review at least 60 finance sector laws during the meet.

Panel to review at least 60 finance laws: Sources

Indian financial sector legislations are up for a major overhaul as the financial sector legislative reforms commission (FSLRC) has been asked to look into all financial sector-related laws. The commission will submit its report in the next 24 months.