Indian Financial System Regulators & Banking Reforms Part 2
Chapter notes, video classes, MCQ practice tests and quick-revision one-liners for Indian Economy and Indian Financial System — JAIIB.
One-liners from this chapter
Free sample — 8 of 66 rapid-fire Q&A cards.
Which body was established under the RBI Act, 1934 to regulate monetary policy in India?
The Reserve Bank of India (RBI) was established under the RBI Act, 1934 and serves as the apex monetary authority responsible for formulating and implementing monetary policy in India.
Which committee recommended the establishment of a separate Board for Financial Supervision under RBI?
Narasimham Committee 1991 recommended Financial Supervision Board setup.
What is the primary mandate of the Securities and Exchange Board of India (SEBI)?
SEBI's primary mandate is to protect the interests of investors in securities, promote the development of the securities market, and regulate it through the SEBI Act, 1992.
What is the full form of FSLRC and what was its mandate?
Financial Sector Legislative Reforms Commission to overhaul financial laws.
Under which act was the Insurance Regulatory and Development Authority of India (IRDAI) established?
IRDAI was established under the Insurance Regulatory and Development Authority Act, 1999 to regulate and promote the insurance and reinsurance industry in India.
What is the primary function of the Board for Financial Supervision (BFS) set up under RBI?
Supervises commercial banks, NBFCs, and financial institutions in India.
What is the role of the Pension Fund Regulatory and Development Authority (PFRDA)?
PFRDA regulates and develops the pension sector in India, overseeing the National Pension System (NPS) and promoting old-age income security under the PFRDA Act, 2013.
What is the Enforcement Directorate's (ED) role in Indian banking reforms?
Investigates money laundering and foreign exchange violations linked to banks.
Video classes for this chapter
More chapters in Module C - Indian Financial Architecture
Master the full IEIFS syllabus
Every chapter of Indian Economy and Indian Financial System — videos, tests, notes and one-liner decks in one place.