Banking Notes : SEBI and IRDA

SECURITIES AND EXCHANGE BOARD OF INDIA (SEBI)

The SEBI i.e. Securities and Exchange Board of India is the regulator for all the security markets in India. It was established in 1988 and was given statutory power on 12 April 1992 through the SEBI Act, 1992.

SEBI has its Head Quarters at the business district of Bandra Kurla Complex in Mumbai, and has regional offices in New Delhi, Kolkata, Chennai and Ahmedabad.

Mr.Ajay Tyagi was appointed chairman on 10 January 2017 replacing Mr.U K Sinha, he took charge of chairman office on March 1, 2017.

NOTE

SEBI has Commenced regulating the commodity derivatives market under the Securities Contract Regulation Act (SCRA) 1956 with effect from September 28 2015 as the Forward Markets Commission (FMC), the chief regulator of commodity futures markets in India was merged with the Securities and Exchange Board of India (SEBI) on 28 September 2015 and the Forward Contracts Regulation Act (FCRA) 1952 got replaced with effect from September 29 2015.

INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY (IRDA)

The Insurance Regulatory and Development Authority of India (IRDAI) is an autonomous, statutory agency tasked with regulating and promoting the insurance and re-insurance industries in India. It was constituted by the Insurance Regulatory and Development Authority Act, 1999, an act of Parliament passed by the Government of India. The agency’s headquarter is in Hyderabad, where it moved from Delhi in 2001.

Chairman- T.S.Vijayan

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Banking Ombudsman Scheme

INDUSTRIAL FINANCE CORPORATION OF INDIA LIMITED (IFCI Ltd.)