Just how many self-regulatory organisations (SROs) are too many? Last week, the Reserve Bank of India (RBI) capped the number of such entities for non-banking financial companies (NBFCs) at "a maximum of two". And to ensure the smaller NBFCs get a fair voice, it said an SRO shall have at least 10 per cent of those in the "base layer" according to the scale-based regulatory framework. In one fell swoop, Mint Road set aside concerns of a proliferation of SROS among NBFCs, given the many kinds of entities at play here: From those into housing finance to large deposittaking firms.
Should such an approach be extended to SROs in other parts of the financial world?
Ever since the 'Omnibus Framework for recognition of SROs for Regulated Entities of the RBI' was put out for public comments on March 21, a host of industry associations have expressed interest in becoming SROs.
Bu hikaye Business Standard dergisinin July 01, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Business Standard dergisinin July 01, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
India-UK innings back on track
On July 4, British citizens will head to the polls to vote in an early general election.
Uncle Sam's dollar Ponzi scheme
US's terrible political and economic leadership will ultimately cost the dollar its value. India must act early to avoid being dragged down
Wall Street maps out what a Trump win would mean for bond market
Financial giants from Goldman Sachs & Co. to Morgan Stanley and Barclays Plc. are taking a fresh look at how a Donald Trump victory in November could play out in the bond market.
US to provide $2.3 bn more in military aid to Ukraine: Austin
Defence Secretary Lloyd Austin said Tuesday that the US will soon announce an additional USD 2.3 billion in security assistance for Ukraine, to include antitank weapons, interceptors and munitions for Patriot and other air defence systems.
Nepali Cong, CPN-UML strike deal to oust PM Prachanda
In a dramatic political development, Nepal's two largest parties - Nepali Congress and CPN-UML-have inked a midnight powersharing deal to form a new 'national consensus government' to replace the coalition government led by Prime Minister Pushpa Kamal Dahal Prachanda, who on Tuesday refused to resign.
From courtroom to Downing Street: Keir Starmer is on the cusp of power
Keir Starmer, the leader of Britain's Labour Party, nodded sympathetically as a young mother recalled, in harrowing terms, how she had watched closed-circuit television footage of the fatal stabbing of her 21year-old son, whose heart was pierced with a single blow.
Don't do something you regret: Sunak
RUN-UP TO UK POLLS ON THURSDAY
EVM, Manipur to Agnipath: Oppn trains guns on govt, EC
18th LS' 1st session adjourned sine die
Defies logic, restore remarks: Rahul
SPEAKER EXPUNGES PORTIONS OF LOP'S SPEECH
Study House rules, raise issues: Modi to NDA MPs
Prime Minister Narendra Modi ☐ Democratic Alliance (NDA) conon Tuesday asked all National stituents to appoint spokespersons, who should regularly coordinate with each other to ensure that the government's views on issues are conveyed forthrightly and in unison.
