Single vs Multiple Regulators

Acts and the corresponding years

Banking Regulation Act, 1949 RBI Act, 1934 FEMA, 1999 Negotiable Act, 1881 SEBI Act, 1992 Insurance Regulatory & Development Act, 1999 Payment and Settlements System Act,2007 Companies Act, 1956 The Securities Contracts (Regulation) Act, 1956

Prevention of Money-Laundering Act, 2002 The Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 Indian Contract Act, 1872 Limitation Act, 1963 Information Technology Act, 2000 Sale of Goods Act, 1930 Indian Partnership Act, 1932 The Capital Issues (Control) Act, 1947

Facts and figures                         Current SLR: 23% Current CRR: 4.25% Current Bank Rate: Increased from 6% to 9% Current repo rate: 8% Current reverse repo rate: 7% Authorised capital for banks: Rs. 300 crores Min. paid up capital: Rs. 60 crores Annual accounts of banks should be submitted to Central Govt. within 2 months of closing A cheque should be presented within 6 months or specific validity period, whichever is earlier Min. amount to be remitted through RTGS: Rs. 2 lakhs NPCI’s domestic card scheme is call RuPay FSLRC: Chairman Justice (Retd.) B.N.Srikrishna EPHESUS and DELPHI were the most powerful of the Greek banking institutions. Fiscal deficit target for 2012-13 pegged at 5.1% of GDP Kharif - July- October – Paddy, maize, soyabean, pulse. Rabi – October-March-Wheat, Gram Zaid – March – June – Summer groundnut Marginal standing facility rate: 9% Herstatt Risk is settlement risk or cross-currency settlement risk BASEL 1: Capital Accord BASEL 2: New Accord-International Convergence of Capital Measurement and Capital Standards-A Revised Framework As per BASEL, the minimum total capital is 8% of risk weighted assets (RWA). Leverage ratio as per BASEL is 3% NSE was the first exchange to have received an in-principle approval from SEBI for setting up currency derivative segment. Currency futures on USD-INR were introduced for trading...