10Jul

Budget 2014 : FINANCIAL SECTOR REFORMS

FM Mr. Jaitley to move forward on the Financial Sector Legislative Reforms Committee (FSLRC) to adopt Indian Financial Code after talks with stakeholders. The RBI is bitterly opposed to some steps – especially shifting the powers of Governor to a monetary policy committee where the finance ministry has more nominees. Indian Depository Receipts to be revamped. Insurance sector regulations to be improved.

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