Government of India Volume I: Analysis and Recommendations

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ANNEXES 6. Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 7. Recovery of Debts Due to Banks and Financial Institutions Act, 1993 8. Foreign Exchange Management Act, 1999 (for foreign currency dealings), guidelines, rules, regulations and master circulars made thereunder 9. Banking Ombudsman Scheme, 2006 (not an Act, but governs resolution of consumer disputes) 10. Payment and Settlement Systems Act, 2007 11. Regional Rural Banks Act, 1976 (for rural banks) 12. Deposit Insurance and Credit Guarantee Corporation Act, 1961 13. Banking Laws (Amendment) Bill, 2011 14. State Co-operative Societies Acts (for each state) 15. Multi State Co-operative Societies Act, 2002 16. State Bank of India Act, 1955 17. State Bank of India (Subsidiary Banks) Act, 1959 18. Competition Act, 2002 19.10.5. List of Committee Reports on Indian banking sector 1. Narasimham Committee I and II 2. Percy Mistry Committee 3. Raghuram Rajan Committee 4. Leeladhar report: Consolidation of Banking Industry in India 5. Umarji Report: Review of the Banking Regulation Act 6. A. Ghosh Committee: Frauds and Malpractices in Banks 7. Adhyarjuna Commitee: Changes in NI Act and Stamp Act 8. B. Eradi Committee: Insolvency and winding up 9. Bhide committee: Coordination between commercial banks and SFC’s 10. James Raj Committee: Functioning of PSBs 11. K. Madhav Das Committee: Urban Co-operative Banks 12. Marathe Committee: Licensing of New Banks 13. M.L. Dantwala Committee: Regional Rural Banks 14. Thingalaya Committee: Restructuring of RRBs 15. S.S. Nadkarni Committee: Trading in PSBs 16. S.S. Kohli: Rationalising Staff Strength in Banks 17. S. Padmanabhan Committee: Inspection of Banks 18. S. Padmanabhan Committee: Onsite supervision function of Banks 19. R.N. Midgra Committee: Cooperative societies 20. Rajamannar Committee: Changes in banking laws and bouncing of cheques 21. Raghavan Committee: Competition Law 22. R. Jilani: Inspection system of banks 23. Pillai Commitee: Pay scales of bank officers 24. Pendarkar committee: Review of the system of inspection of commercial, RRB and urban co-operative banks 192 FINANCIAL SECTOR LEGISLATIVE REFORMS COMMISSION
ANNEXES 19.11. Interactions by the Working Groups WG on Payments ◮ Reserve Bank of India ◮ National Payments Corporation of India ◮ PayPal ◮ Vodafone ◮ Bharti Airtel ◮ A Little World WG on Insurance, Pensions & Small Savings ◮ General Insurance Council ◮ Life Insurance Council ◮ Lloyds ◮ Indian Institute of Insurance, Surveyors & Loss Assessors ◮ Ministry of Labour ◮ Insurance Regulatory and Development Authority WG on Securities ◮ Association of Investment Bankers of India ◮ Association of National Exchanges Members of India ◮ BSE Ltd. ◮ Indian Clearing Corporation of India ◮ National Stock Exchange of India Ltd. ◮ National Securities Clearing Corporation Ltd. ◮ MCX-SX ◮ Central Depository Service (India) Ltd. ◮ The BSE Brokers’ Forum FINANCIAL SECTOR LEGISLATIVE REFORMS COMMISSION 193
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Government of India _______________
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Contents Acronyms . . . . . . . . .
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CONTENTS 12 Public debt management
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ACRONYMS FSAT Financial Sector Appe
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Acknowledgement When the Ministry o
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ACKNOWLEDGEMENT appreciate the effo
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EXECUTIVE SUMMARY rience till date.
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EXECUTIVE SUMMARY out many processe
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EXECUTIVE SUMMARY can issue regulat
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EXECUTIVE SUMMARY Alongside this, i
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EXECUTIVE SUMMARY to analyse one co
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Contracts, trading and market abuse
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5. A new Financial Redressal Agency
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EXECUTIVE SUMMARY States GDP as of
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1.2. Deliberations in the Commissio
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INTRODUCTION amendments frequently
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INTRODUCTION sectoral composition o
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INTRODUCTION The Commission has und
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CHAPTER 2 The tasks of financial la
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THE TASKS OF FINANCIAL LAW This is
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THE TASKS OF FINANCIAL LAW ◮ “i
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THE TASKS OF FINANCIAL LAW 2.5. Own
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THE TASKS OF FINANCIAL LAW desirabl
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CHAPTER 3 Structure of the regulato
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STRUCTURE OF THE REGULATOR Table of
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CHAPTER 4 Functions and powers of t
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FUNCTIONS AND POWERS OF THE REGULAT
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CONSUMER PROTECTION The consumer pr
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Table of Recommendations 5.4 Princi
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CONSUMER PROTECTION using or disclo
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CONSUMER PROTECTION providers. The
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CONSUMER PROTECTION Table of Recomm
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CHAPTER 6 Micro-prudential regulati
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MICRO-PRUDENTIAL REGULATION let tha
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MICRO-PRUDENTIAL REGULATION Table o
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MICRO-PRUDENTIAL REGULATION PRINCIP
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MICRO-PRUDENTIAL REGULATION the oth
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RESOLUTION payment systems. The cor
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RESOLUTION Commensurately, the corp
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Table of Recommendations 7.3 Intera
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Table of Recommendations 7.5 Powers
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Table of Recommendations 7.7 Fundin
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CHAPTER 8 Capital controls Capital
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CAPITAL CONTROLS 2. Absence of judi
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CAPITAL CONTROLS Table of Recommend
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CAPITAL CONTROLS Table of Recommend
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Table of Recommendations 9.1 Object
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Table of Recommendations 9.3 Establ
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SYSTEMIC RISK filings by financial
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SYSTEMIC RISK Table of Recommendati
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egulatory agencies. In such a situa
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FINANCIAL INCLUSION AND MARKET DEVE
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FINANCIAL INCLUSION AND MARKET DEVE
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Table of Recommendations 11.1 Objec
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Table of Recommendations 11.2 The m
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Table of Recommendations 11.3 Board
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CHAPTER 12 Public debt management 1
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PUBLIC DEBT MANAGEMENT of the publi
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PUBLIC DEBT MANAGEMENT State Govern
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PUBLIC DEBT MANAGEMENT Table of Rec
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CHAPTER 13 Foundations of contracts
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FOUNDATIONS OF CONTRACTS AND PROPER
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14.2. Problems of the present arran
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FINANCIAL REGULATORY ARCHITECTURE T
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FINANCIAL REGULATORY ARCHITECTURE w
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TRANSITION ISSUES On the functional
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TRANSITION ISSUES service providers
Page 174 and 175: SUMMARY OF RECOMMENDATIONS NOT EMBE
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Page 180 and 181: 18.2. Note of dissent by K.J. Udesh
Page 182 and 183: 18.3. Note of dissent by P.J. Nayak
Page 184 and 185: NOTES OF DISSENT A second difficult
Page 186 and 187: NOTES OF DISSENT 6. The present arr
Page 189 and 190: CHAPTER 19 Annexes 19.1. Formation
Page 191 and 192: ANNEXES 19.2. List of consultants,
Page 193 and 194: ANNEXES * Did not participate in th
Page 195 and 196: ANNEXES 19.5. Interactions with aut
Page 197 and 198: ANNEXES (c) Examine whether informa
Page 199 and 200: ANNEXES 2. General development of m
Page 201 and 202: ANNEXES 19. Role of surveyors: (a)
Page 203 and 204: ANNEXES 6. The law must provide for
Page 205 and 206: ANNEXES 31. Resolution of insurance
Page 207 and 208: ANNEXES 3. As shocks can spread thr
Page 209 and 210: ANNEXES 19.8.2. Terms of Reference
Page 211 and 212: ANNEXES (d) The Board of the target
Page 213 and 214: ANNEXES 2. The PDMA should adopt a
Page 215 and 216: ANNEXES 3. On the issue of co-opera
Page 217 and 218: ANNEXES 14. Regulators must look at
Page 219 and 220: ANNEXES 31. The WG recommends the m
Page 221 and 222: ANNEXES (b) Efficiency of DRT: Suit
Page 223: ANNEXES (c) Pledged shares and exem
Page 227 and 228: ANNEXES 19.13. Submissions to FSLRC
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