1. FINANCIAL SER V ICES MANAGEMENT
FINANCIAL SYSTEM
FM III

2. Topic Regulatory bodies- Role and functions
RBI: Reserve Bank of India
IRDA : Insurance Regulatory Development Authority
PFRDA : Pension Fund Regulatory Development authority
SEBI: Securities & Exchange Board of India

3. Reserve Bank of India (RBI)
Introduction
Established 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 & Functions
Note Issuing Authority
Banker to the Government
Bankers’ Bank
Supervising and Regulating Authority
Exchange Control (EC) Authority
Promotional Functions
Regulator of Monetary and Credit policy

6. Insurance Regulatory & Development Authority (IRDA)
Introduction
It 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 & Functions
To 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 & Functions
To 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 funds
To regulate margins of solvency
To adjudicate disputes between insurer & intermediaries

9. Pension Fund Regulatory and Development Authority (PFRDA)
Introduction
was 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 and
for matters connected therewith or incidental thereto.

10. Pension Fund Regulatory and Development Authority (PFRDA)
Role & Functions
Regulating the National Pension Scheme.
Educating the subscribers and the general public on issues relating to pension, and training of intermediaries
Adjudicating disputes between intermediaries as well as between intermediaries and subscribers
Establishing mechanisms for grievance redressal of the subscribers.

11. The Securities & Exchange Board of India (SEBI)
Introduction
came 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 & Function
Regulating 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 & Function
Promoting investors’ education and training of intermediaries of the securities market.
Prohibiting insider trading in securities.
Regulating substantial acquisition of shares and takeover of companies
Calling for information from various intermediaries and stock exchanges
Per
Levying fees or other charges for carrying out the above purposes forming such functions or exercises