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Indian Financial Code News

19 Jan 2016

Consensus-based system' better for policy rates: Panagariya

Backing the proposed monetary policy committee for deciding the key interest rates, NITI Aayog Vice-Chairman Arvind Panagariya Tuesday said "consensus-based system" works better.

10 Aug 2015

Rangarajan favours RBI majority in Monetary Policy Committee

Joining the debate over the powers of RBI Governor in setting policy rate, bank's former head C Rangarajan on Sunday said the government can do away with the veto power of Governor but the majority of members in the Monetary Policy Committee should be from the apex bank.

03 Aug 2015

No decision on curtailing RBI Guv power on rates: FinMin

As the move to strip RBI Governor of veto power on deciding interest rates faced backlash, the government Monday said no decision on curtailing powers of the central bank has yet been taken.

03 Aug 2015

Govt on backfoot over proposal to curtail RBI Guv's power

Going on the backfoot over a draft Bill proposing curtailing powers of RBI Governor on interest rate, the government Monday said it is not right to conclude that it wants to curtail the central bank's powers.

Competition Commission of India

02 Aug 2015

Competition Commission set for sweeping powers under IFC

The Competition Commission might wield sweeping authority during formulation of financial market norms, including powers to issue binding directions, if certain provisions in the Indian Financial Code become a reality.

02 Aug 2015

Clipping RBI chief's veto not an FSLRC proposal: Member

In a new twist, an FSLRC member has said the draft bill seeking to clip RBI chief's veto in deciding interest rates does not reflect the views of the panel and it actually favoured Governor having the last word.

24 Jul 2015

Govt proposes to dilute RBI chief's power; can't veto on policy rate

In a move that may dilute powers of RBI chief, the government Thursday proposed taking away his authority to veto the interest rate decision of the central bank's monetary policy committee.

20 Aug 2014

Modified draft Indian Financial Code likely by mid-2015

Taking forward financial sector reforms agenda, Finance Ministry expects to be ready with the modified draft law for implementation of FSLRC recommendations by mid-2015 after extensive stakeholder consultations.

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