Presentation on theme: "FINANCIAL SER V ICES MANAGEMENT"— Presentation transcript:
1 FINANCIAL SER V ICES MANAGEMENT FINANCIAL SYSTEMFM III
2 Topic Regulatory bodies- Role and functions RBI: Reserve Bank of IndiaIRDA : Insurance Regulatory Development AuthorityPFRDA : Pension Fund Regulatory Development authoritySEBI: Securities & Exchange Board of India
3 Reserve Bank of India (RBI) IntroductionEstablished on April 1, 1935 under the Reserve bank of India Act 1934.Initially, it was constituted as a private shareholder’s bank with a fully paid up share capital of Rs 5 crores.It was nationalized on January 1, 1949.
4 Reserve Bank of India (RBI) It is the central bank of the country and the main regulator of the banking system.As the apex institution, it has been guiding, monitoring, regulating, controlling and promoting the banking as well as the financial system.Being the apex institution of country’s monetary and financial system it plays a leading role in designing and conduct of the monetary and credit policy as its special responsibility.
5 Reserve Bank of India (RBI) Role & FunctionsNote Issuing AuthorityBanker to the GovernmentBankers’ BankSupervising and Regulating AuthorityExchange Control (EC) AuthorityPromotional FunctionsRegulator of Monetary and Credit policy
6 Insurance Regulatory & Development Authority (IRDA) IntroductionIt is an autonomous apex statutory body which regulates and develops the insurance industry in India.It was constituted by a Parliament of India under the Insurance Regulatory and Development Authority Act,It was incorporated as a statutory body in April, 2000.
7 Insurance Regulatory & Development Authority (IRDA) Role & FunctionsTo regulate, promote and ensure orderly growth of the insurance business.To exercise all powers and functions of the controller of insurance.To protect the interest of the policy holders in settlement of claims and terms and conditions of policies.To promote and regulate professional organizations connected with insurance business.To call for information, undertake inspection and conduct investigation including audit of the insurer, intermediaries and other connected organizations and persons.
8 Insurance Regulatory & Development Authority (IRDA) Role & FunctionsTo control and regulate the rates and terms & conditions that may be offered by the insurers in respect of general insurance matters.To prescribe the manner and form in which accounts will be maintained and submitted by insurers and intermediaries.To regulate investment of fundsTo regulate margins of solvencyTo adjudicate disputes between insurer & intermediaries
9 Pension Fund Regulatory and Development Authority (PFRDA) Introductionwas established by the Government of India on 23rd August 2003.to promote old age income security by establishing, developing and regulating pension funds.to protect the interests of subscribers to schemes of pension funds andfor matters connected therewith or incidental thereto.
10 Pension Fund Regulatory and Development Authority (PFRDA) Role & FunctionsRegulating the National Pension Scheme.Educating the subscribers and the general public on issues relating to pension, and training of intermediariesAdjudicating disputes between intermediaries as well as between intermediaries and subscribersEstablishing mechanisms for grievance redressal of the subscribers.
11 The Securities & Exchange Board of India (SEBI) Introductioncame into being in 1992 as an agency to protect the interests of investors in securities.to promote a transparent and strong regulatory structure for the efficient functioning of the capital market.Intermediaries including merchant bankers, brokers, portfolio managers, mutual funds, etc were brought under SEBI regulations.SEBI deals with all aspects of capital market, viz; entry to act as member/ dealer, merchant banker, MF and Venture Capital markets.
12 The Securities & Exchange Board of India (SEBI) Role & FunctionRegulating the business in stock exchanges and any other securities markets.Registering and regulating the working of stock brokers, sub-brokers, share transfer agents, bankers to an issue.3.Registering and regulating the working of venture capital (VC) funds.Promoting regulating self-regulatory organizations.Prohibiting fraudulent and unfair trade practices relating to the securities market
13 The Securities & Exchange Board of India (SEBI) Role & FunctionPromoting investors’ education and training of intermediaries of the securities market.Prohibiting insider trading in securities.Regulating substantial acquisition of shares and takeover of companiesCalling for information from various intermediaries and stock exchangesPerLevying fees or other charges for carrying out the above purposes forming such functions or exercises