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Ethics, Financial Services and Regulation (Chapter 4A)
What is the key distinction between rules-based and principles-based regulation in the financial sector?
Rules-based regulation prescribes specific actions institutions must follow, while principles-based regulation sets broad objectives and allows institutions to use their own ethical frameworks to achieve them.
How does the RBI define Central Bank Digital Currency (CBDC)?
Legal tender issued by a central bank in digital form, exchangeable at par.
In what direction has financial sector regulation in India shifted in recent years?
Financial sector regulation in India has moved from prescriptive rules-based regulation toward principles-based regulation, giving institutions greater flexibility in meeting regulatory objectives.
What distinguishes CBDC from cryptocurrencies according to the chapter?
CBDC is legal tender issued by the central bank; cryptocurrencies are not.
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