KYR: SEBI - Securities and Exchange Board of India

SEBI stands for Securities and Exchange Board of India

SEBI was conceptualized in the year of 1988 whereas the actual working of the same started in the year 1992. It is formed under the Securities and Exchange Board of India Act, 1992. SEBI was started to replace the then existing Controller of Capital Issues under the Capital Issues (Control Act)1947. The main purpose of setting up SEBI is to "PROTECT THE INTERESTS OF RETAIL INVESTORS" participating of the security markets. It is also responsible for developing the capital markets in line of the economic growth. SEBI controls the working of the mutual funds, stock exchanges, setting up of intermediaries in the market and the investors, in general. Thus, the three fold role of SEBI is to make regulations for working, develop the market in line of the regulations and observe the participants adherence to the regulatory laws. 

With regards to working of the stock exchange SEBI ensures that the listing companies follow the norms for listing and for shareholding patterns. Also, the regular notifications in relation to company news are also provided to SEBI. For intermediaries, SEBI has developed code of conduct ethics to be followed by them. SEBI wants to ensure that the intermediaries are well aware of products that they are selling. Hence, it has started various entrance exams to issue licentiates for these intermediaries.

SEBI is also undertaking various investor programs, setting up booklets to promote financial literacy among common people;for the same, SEBI has also recently launched a website ”http://investor.sebi.gov.in/”

To launch a complaint against any of the above or any other entity under the perview of SEBI guidelines, an investor can do so at http://scores.gov.in/Complaint.aspx?flag=n. Once, SEBI has forwarded the complaint to the concerned entity, they have to respond to the same in 30 days.

Official website : www.sebi.gov.in

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Saarthi Financial Planner

Email: saarthifp@gmail.com

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KYR: RBI - Reserve Bank of India : India's Central Bank

RBI stands for Reserve Bank of India

Reserve Bank of India is the central bank of India

RBI was formulated in 1935 under the provisions of Reserve Bank of India Act, 1934. The RBI acts as a banker to the central government and all banks. It has various roles to play in the economic welfare of the country.

RBI keeps a watch on the country’s interest rates, inflation rates, money circulation to stabilize the fiscal economy of the country. It also ensures that the entities like Bank, Non-Banking Financial Companies (NBFCs) borrow and lend from direct consumer maintaining their statutory funds like SLR, CRR ratios. This is to ensure adequate liquidity in the financial markets. Reserve Bank of India supervises the licensing, capital requirements, norms on lending for priority sectors (agriculture, manufacturing) for the Banks and NBFCs. Thus; it is a regulator for all types of banks including co-operative banks, NBFC, rural banks and others. The RBI works in alliance of the finance ministry relating to the savings rates after studying the fiscal details of trade and international market. RBI has the sole authority to print notes and coins to meet the demand for actual currencies. RBI also acts as a clearing agent for all cheques transfers, electronic clearance and many more. 

RBI has set up the following:

a)     Customer Service Department : A grievance redressal cell for customers. For any issues you can contact helpcsd@rbi.og.in

 

b)  Banking Codes and Standards Board of India : To ensure that the banks are working as per the prescribed laws : http://www.bcsbi.org.in/

c)  Ombudsman: It is a third party quasi set up where issues between different banking entities can be resolved: http://bankingombudsman.rbi.org.in

• RBI official website : http://www.rbi.org.in
• Mint official website :  http://www.spmcil.com
• Mumbai Mint official website : http://www.mumbaimint.in

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Team

Saarthi Financial Planner

Email: saarthifp@gmail.com

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KYR : ICAI – The Institute of Chartered Accountants of India

ICAI stands for The Institute of Chartered Accountants of India

ICAI lays standard to regulate your internal and external accounting audits.

ICAI is a legal organization created under the Chartered Accountants Act, 1949 to regularize the working of Chartered Accountants in India. In term of member size, ICAI ranks among the top three of the accounting bodies globally. The main role of this entity is promoting the subject of accountancy in India, educate and hold exams for Chartered Accountancy. The other roles involve research, advisory and growth of the fraternity to serve the nation for a better financial life. The body also ensures implementation of ethical standards is done by the members along with their professional growth in the process. ICAI gives its opinion to government regarding many key issues including implementation of direct tax, setting up tax laws, following cooperate governance by the companies, export – import policies and many more. It works in convergence of many other regulatory bodies like Comptroller of Auditor General of India (CAG), RBI, SEBI, Ministry of Corporate Affairs (MCA) under Government of India (GOI) and IRDA etc. ICAI plays a very big role to ensure that fair practices are followed by members and attends to the complaints from the end users of the services and also grant sou- motu actions in some cases. The defaulting members are made accountable for any defaults in accounting practices.

Official website :  www.icai.org.in

Thanks and Regards

Team

Saarthi Financial Planner

Email: saarthifp@gmail.com

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