Detail about various Financial Regulatory Bodies in India. List of Financial Regulators in India - RBI, SEBI, PFRDA, IRDAI, NABARD, SIDBI, Ministry of Finance.The financial system in India is regulated by independent regulators in the field of banking, insurance, capital market, commodities market, and pension funds.
Here In this Article we will Understand about all the Financial Regulators in India. About Controls, Establishment, Head Office, and Detail about Functions.
Name - Reserve Bank of India (RBI)
Controls - Monetary policy and Money Market
Head Office - Mumbai
Established - 1st April 1935 Using Reserve of India Act, 1934
Governor - Shakti Kanta Das
Name - Securities and Exchange Board of India (SEBI)
Controls - Stock broking & Merchant Banking Companies, Security & Capital Market -
Chairman - Ajay Tyagi
Head Office - Mumbai
Established - 12th April 1992
About - The Securities and Exchange Board of India is the regulator for the securities market in India. It was established in 1988 and given statutory powers on 30 January 1992 through the SEBI Act, 1992.
Name - Insurance Regulatory and Development Authority (IRDA)
Controls - Insurance industry
Chair Person - Subhash Chandra Khuntia
Head Office - Hyderabad
Established - 1999
About - The Insurance Regulatory and Development Authority of India is an autonomous, statutory body tasked with regulating and promoting the insurance and re-insurance industries in India.
Objective - To promote the interest and rights of policy holders. To promote and ensure the growth of Insurance Industry. To ensure speedy settlement of genuine claims and to prevent frauds and malpractices. To bring transparency and orderly conduct of in financial markets dealing with insurance
Name - Pension Fund Regulatory Development Authority (PFRDA)
Controls - Pension sector
Chair Person - Hemant Contractor
Head Office - New Delhi
Established - August 23, 2003
Name - National Bank for Agriculture and Rural Development (NABARD)
Controls - Agriculture Financing and Development in India
Chairman - Harsh Kumar Bhanwala
Head Office - Mumbai
Established - 12th July 1982
Name - Small Industries Development Bank of India (SIDBI)
Controls - MSME Sector in India
Chair Person - Mohammad Mustafa
Head Office - Lucknow
About - Small Industries Development Bank of India is a development financial institution in India, headquartered at Lucknow and having its offices all over the country
Founded: 2 April 1990
Name - National Payment Corporation of India
Controls - Retail(Online) and Digital Transaction in India and Work Under RBI.
Chair Person - Dilip Asbe (CEO & MD), B Sambamurthy (Chairman)
Head Office - Mumbia
Established - 2008
About - National Payments Corporation of India (NPCI), an umbrella organisation for operating retail payments and settlement systems in India, is an initiative of Reserve Bank of India (RBI) and Indian Banks’ Association (IBA) under the provisions of the Payment and Settlement Systems Act, 2007, for creating a robust Payment & Settlement Infrastructure in India.
Considering the utility nature of the objects of NPCI, it has been incorporated as a “Not for Profit” Company under the provisions of Section 25 of Companies Act 1956 (now Section 8 of Companies Act 2013), with an intention to provide infrastructure to the entire Banking system in India for physical as well as electronic payment and settlement systems. The Company is focused on bringing innovations in the retail payment systems through the use of technology for achieving greater efficiency in operations and widening the reach of payment systems.
Name - Deposit Insurance and Credit Guarantee Corporation (DICGC)
Controls - Provide Deposit Insurance and Work Under RBIAbout - Deposit Insurance and Credit Guarantee Corporation (DICGC) is a subsidiary of Reserve Bank of India. It was established on 15 July 1978 under Deposit Insurance and Credit Guarantee Corporation Act, 1961 for the purpose of providing insurance of deposits and guaranteeing of credit facilities. DICGC insures all bank deposits, such as saving, fixed, current, Recurring deposit for up to the limit of Rs. 100,000 of each deposits in a bank.
DICGC's headquarters is in 'Bombay and Deputy Governor of RBI .Shri N S Vishwanathan is the Chairman.
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