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Which of the following is not correct regarding FSLRC?A. It reviews, simplifies and rewrites the legislations affecting the financial markets in India.B. It evolves a common set of principles for governance of financial sector regulatory institutionsC. It streamlines the regulatory architecture of financial marketsD. it was formed in 2013 |
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Answer» Correct Answer - D The Financial Sector Legislative Reforms Commission (FSLRC) is a body set up by the Government of India, ministry of Finance, on 24 March 2011. The remit of FSLRC comprises the following : (i) Review, simplify and rewrite the legislations affecting the financial markets in India, (ii) Evolve a common set of principles for governance of financial sector regulatory institutions, (iii) Remove inconsistencies and uncertainties in legislations/Rules and Regulations, (iv) Make legislations dynamic to automatically bring them in tune with the changing financial landscape, and (v) Streamline the regulatory architecture of financial markets. |
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