Government of India Volume I: Analysis and Recommendations

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19.12. External Reviewers and Experts who worked with the Research Team S.No. Name Designation Organisation 1 Avinash Persaud Senior Fellow Caribbean Policy Research Institute 2 Badri Narayanan Advisor Third Eye Capital Advisors LLP 3 Bikku Kuruvila Legal Consultant New York, USA 4 Bindu Ananth President IFMR Trust 5 Chandrasekhar Bhaskar Bhave Former Chairman Securities and Exchange Board of India 6 Jahangir Aziz Chief Economist JP Morgan Chase & Co 7 K.N. Vaidyanathan Chief Risk Officer Mahindra and Mahindra ANNEXES 8 K.P. Krishnan Secretary Economic Advisory Council to Prime Minister 9 Kate McKee Senior Advisor CGAP 10 M.S. Sahoo Former Member Securities and Exchange Board of India 11 Matt Crooke Minister-Counsellor Australian High Commission, New Delhi 12 Molina Asthana Principal Solicitor (Commercial, Property & Technology) 13 Monika Halan Editor Mint Money Victorian Government Solicitor’s Office, Melbourne, Australia 14 N.K. Nampoothiry Special Secretary Department of Legal Affairs, GOI 15 Nachiket Mor Chair Sugha Vazhvu Health Care Private Ltd 16 O.N. Ravi Corporate Development Officer The Clearing Corporation of India Limited 17 Ritvik R. Pandey Director (Budget) Department of Economic Affairs, GOI 18 Renuka Sane Research Economist Indira Gandhi Institute of Development Research 19 Sanjay Banerji Professor of Finance University of Nottingham Business School 20 Sanjiv Shah Executive Director Goldman Sachs 21 Subrata Sarkar Professor Indira Gandhi Institute of Development Research 22 Sudhamoy Khasnobis Founder i-Care Life Pte. Ltd, Singapore 23 T. Koshy Executive Director, Advisory Services 24 Tarun Ramadorai Professor of Financial Economics Ernst & Young Private Ltd. Said Business School & Oxford-Man Institute of Quantitative Finance University of Oxford 25 Vikramaditya Khanna Professor University of Michigan Law School 26 Viral V. Acharya Professor of Economics New York University Stern School of Business 27 Yesha Yadav Assistant Professor of Law Vanderbilt University Law School 194 FINANCIAL SECTOR LEGISLATIVE REFORMS COMMISSION
ANNEXES 19.13. Submissions to FSLRC A. General Submissions S.No. From Remarks 1. Mr. Rajiv Ranjan, President & CEO, Reliance Asset Reconstruction Co. Ltd through CM Division of MoF SARFAESI Act: Legal and Regulatory issues 2. Mr. S.M. Roy Funds for investor education - unclaimed moneys of investors lying with companies 3. CM Division, DEA, MoF Draft National Competition Policy 2011 4. Mr. B. Veeraswamy Review of employees’ Pension Scheme - 1995 5. Mr. Dirk Kempthorne, President & CEO of ACLI / CM Division, DEA, MoF 6. PHD Chamber of Commerce and Industry White paper on Benefits of Life Insurance Sector Reforms prepared by American Council of Life Insurers (ACLI) Written submission based on interaction 7. FICCI Written submission based on interaction 8. DFS, through CM Division, DEA, MoF Suggestions for the consideration of Commission 9. Indian Banks’ Association Written submission based on interaction 10. Mr. Charan Lal Sahu, All India Sahu Mahasabha, through DEA, MoF Amendments in all Laws U/A 39(C) of the Constitution of India in Central Acts to root out corruption 11. Mr. Sandeep Parekh, FINSEC, Mumbai Written representation on policy issues to terms of reference of the Commission 12. Mr. L. Rutten, MD & CEO, MCX, Mumbai Written submission based on interaction 13. Mr. Bill Shorten, Minister for Employment and Workplace Relations etc., Canberra ACT 14. Mr. Rajiv Agarwal, Secretary, Consumer Affairs 15. Mr. R. Gopalan, Secretary (Economic Affairs) Written submission based on interaction Written submission based on interaction Copy of reply sent to Shri Rajiv Agarwal, Secretary, M/o Consumer Affairs Reg. non acceptance of their request to remove FCRA from the TOR of the Commission 16. MoF (CM Division) Withdrawal of Indian Trust Act(Amendment) bill 2009 from the Lok Sabha seeking views/comments of Commission 17. Mr. H. Jayesh, Juris Corp, Mumbai 18. Keith Noyes, Regional Director, Asia Pacific International Swaps and Derivatives Association, Inc., Singapore 19. CUTS International On the need for a dedicated consumer protection agency FINANCIAL SECTOR LEGISLATIVE REFORMS COMMISSION 195
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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
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SUMMARY OF RECOMMENDATIONS NOT EMBE
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Page 180 and 181: 18.2. Note of dissent by K.J. Udesh
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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
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Page 201 and 202: ANNEXES 19. Role of surveyors: (a)
Page 203 and 204: ANNEXES 6. The law must provide for
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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 and 224: ANNEXES (c) Pledged shares and exem
Page 225: ANNEXES 19.11. Interactions by the
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Government of India Volume I: Analysis and Recommendations

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