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3/22/2018 SSC Economic Notes: Regulatory Bodies in India

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SSC Economic Notes : Regulatory Bodies in India


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Today, we have discussed SSC GK Economic Notes based on Regulatory Bodies in


India . SSC CHSL Tier I Exam will be started from 04th March 2018. We wish that
these articles will help you to secure good marks in SSC CHSL Tier I 2017-18 Exam.

Regulatory (Apex) Bodies in Financial sector in India


RBI (Reserve Bank of India)

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RBI was established in April 1935 under Reserve Bank of India, 1934.
On the recommendation of Hilton-Young Commission.
Central Bank of India which was nationalized in 1949.
Central o ce initial was established in Calcutta and later moved to Mumbai in
1937.

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O cial Directors- Governors and not more than four deputy governors.
Currently following persons are on following posts-
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Governor- Dr Urjit R. Patel


RBI performs his function under the guidance of the Board of nancial
supervision.
Board for Financial Supervision (BFS)-
Constituted in November 1994.The Board is constituted by co-opting four
Directors from the Central Board and is chaired by the Governor.
Important Acts Administered by RBI-
(i) Reserve Bank of India Act, 1934
(ii) Public Debt Act, 1944/Government Securities Act, 2006
(iii) Government Securities Regulations, 2007
(iv) Banking Regulation Act, 1949
(v) Foreign Exchange Management Act, 1999
(vi) Securitisation and Reconstruction of Financial Assets and Enforcement of
Security Interest (SARFAESI) Act, 2002
Other Relevant Acts-
(i) Negotiable Instruments Act, 1881
(ii) Companies Act, 1956/ Companies Act, 2013
(iii) Deposit Insurance and Credit Guarantee Corporation Act, 1961
(iv) Regional Rural Banks Act, 1976
(v) National Bank for Agriculture and Rural Development Act, 1981
(vi) National Housing Bank Act, 1987
(vii) Competition Act, 2002
(viii) Indian Coinage Act, 2011
RBI has 20 Regional o ces and 11 Sub O ces
Following are the fully owned subsidiary of RBI-
(i) Deposit Insurance and Credit Guarantee Corporation of India (DICGC)
(ii) Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL)
(iii) National Housing Bank (NHB)
First governor of RBI- Sir Osborne Smith
First governor of RBI after nationalization- C. D. Deshmukh
First women Deputy Governor of RBI -K.J.Udeshi.
RBI Emblem: Tiger and Palm tree

SEBI (Securities and Exchange Board of India)

Established in April 1992 under SEBI Act, 1992.


Regulator for the securities market in India.

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3/22/2018 SSC Economic Notes: Regulatory Bodies in India

Headquarters- Mumbai
Current Chairman- Ajay Tyagi
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The Forwards Market Commission, the commodities market regulator, was


merged with the Securities and Exchange Board of India in December 2015.

IRDAI (Insurance Regulatory and Development Authority of India)

Apex Body in the insurance sector in India.


Based on Insurance Regulatory and Development Authority Act, 1999.
Established on the recommendation of Malhotra Committee report of 1994.
Headquarter- Hyderabad, Telangana
The Body consists of 10 members-
(a) Chairman (b) Five full-time members (c) Four part-time members.
Current Chairman- T. S. Vijayan

NABARD (National Bank for Agriculture and Rural Development)

Apex development nancial institution in India.


Headquarter- Mumbai
Established in July 1982 under NABARD Act 1981.
On the recommendation of B. Sivaraman Committee.
Replaced the RBI’s Agriculture Credit Department and Rural Planning and
Credit cell.
It is a specialised bank for Agriculture and rural development in India.
Rural Innovation Fund and Rural Infrastructure Development Fund have been
set under NABARD.
Important Functions-
(i) Recommends about licensing for RRBs and Cooperative banks to RBI.
(ii) Re nances the nancial institutions which nance the rural sector.
Current Chairman- Dr Harsh Kumar Bhanwala

SIDBI (Small Industries Development Bank of India)

Established in April 1990 under SIDBI Act, 1989.


Provide re nance facilities and short-term lending to industries and MSME’s.
Headquarter- Lucknow
Associates of SIDBI-
(i) Credit Guarantee Fund Trust for Micro and Small Enterprises- provides
guarantees to banks for collateral-free loans extended to SME.
(ii) SIDBI Venture Capital Ltd
(iii) SME Rating Agency of India Ltd. (SMERA)- Provides composite ratings to
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3/22/2018 SSC Economic Notes: Regulatory Bodies in India

SME.
(iv) ISARC - India SME Asset Reconstruction Company in 2009, as specialized
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entities for NPA resolution for SME.


MUDRA Bank is a subsidiary of SIDBI.

EXIM (Export-Import Bank of India)

Premier export nance institution in India


Established in 1982 under EXIM Act 1981.
Headquarters- Mumbai
It coordinates with the working of institutions engaged in nancing export and
import of goods and services.

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121 upvotes 16 comments

Tags : SSC SSC CGL General Awareness

Posted by:

Puneet Bansal
Feb 26 SSC

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Krishna Feb 26
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Thank you sir
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Prince Shakya Feb 26


@Anjali Jateria @Anjali Jateria 😑 @Anugya Panwar @ships singh @Reshu
Saini @Divya Saini @Tulika Pandey @Vaishali Shakya @Sweety Tiwary
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Thanks sir
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raghav mishra Feb 26


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Thanx sir😊
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Hemant Chandak Feb 27


Anyone can suggest me about rajasthan GK??
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SWAPNIL Chandrikapure Feb 27


Sir indian oil ka non technical apprentic ka exam ka Syllabus kay hai...?
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Sanjeev Kumar Sahu Feb 27


I think Some details are wrong about  SEBI so please check and send any message
about this
" It was established in the year 1988 and given statutory powers on 30 January
...Read 1992
More
0 0

Sanjeev Kumar Sahu Feb 27


I think Some details are wrong about  SEBI so please check and send any message
about this
" It was established in the year 1988 and given statutory powers on 30 January
...Read 1992
More
0 0

Arunagiri M K Mar 8
Symbol of RBI is black panther and palm not tiger
0 1

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