Govt in talks with market regulators to face financial turmoil
To expedite reforms and fine tune regulation in the financial sector in the light of the global financial turmoil, the finance ministry has started hectic discussions with the banking and capital market regulators.
By Gireesh Chandra Prasad, ET Bureau |
To expedite reforms and fine tune regulation in the financial sector in the light of the global financial turmoil, the finance ministry has started hectic discussions with the banking and capital market regulators. Senior finance ministry officials are holding a high level meeting with SEBI chairman C B Bhave and RBI deputy governor Shyamala Gopinath in the capital today.
The meeting, which is currently underway, is discussing the Financial Sector Self Assessment (CFSA) Report, recently prepared by RBI's earstwhile deputy governor Dr Rakesh Mohan and finance secretary Ashok Chawla.
The panel, in which central bank governor Dr Subbarao was also a member, had identified specific areas of concerns in financial regulation in India. The six volume report had identified issues to be addressed in regulating money, capital and foreign exchange markets, institutions, insolvency regime and the co-operative sector.
The meeting is also discussing the recommendations in financial regulation given earlier by noted economist Dr Raghuram Rajan.
The meeting, which is currently underway, is discussing the Financial Sector Self Assessment (CFSA) Report, recently prepared by RBI's earstwhile deputy governor Dr Rakesh Mohan and finance secretary Ashok Chawla.
The panel, in which central bank governor Dr Subbarao was also a member, had identified specific areas of concerns in financial regulation in India. The six volume report had identified issues to be addressed in regulating money, capital and foreign exchange markets, institutions, insolvency regime and the co-operative sector.
The meeting is also discussing the recommendations in financial regulation given earlier by noted economist Dr Raghuram Rajan.
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