Ministry of finance
The Ministry of Finance is a government department responsible for overseeing the economic and financial activities of a nation. It is typically responsible for developing economic and fiscal policy, preparing and managing the budget, collecting taxes, monitoring the financial system, managing public debt, and providing advice and assistance to other government departments. The Ministry may also be responsible for regulating the financial sector, overseeing government spending, and managing the public debt.
Department | Description | Responsibilities |
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Ministry of Finance | Oversees economic and financial activities of a nation | Develops economic and fiscal policy, manages budget, collects taxes, monitors financial system, manages public debt, regulates financial sector, oversees government spending |
Department of Economic Affairs (DEA) | Provides advice and assistance on economic and fiscal policy | Formulates fiscal policy, manages budget, monitors expenditure, oversees economic performance |
Department of Revenue | Collects taxes and other revenues for the government | Administers tax system, ensures compliance with tax laws, provides assistance and advice on tax collection and management |
Department of Expenditure | Oversees government expenditure | Monitors expenditure, ensures funds are used in accordance with government policy and budget allocations, provides advice and assistance on government expenditure management |
Department of Financial Services | Oversees the financial sector | Formulates and implements policies to regulate financial sector, oversees banking sector, ensures compliance with financial laws and regulations, provides advice and assistance on financial regulation and supervision |
Department of Disinvestment | Responsible for divestiture of government-owned assets | Formulates and implements policies for sale of government-owned assets, manages sale of government-owned enterprises, oversees divestiture of government-owned assets, provides advice and assistance on management and divestiture of government-owned assets |
Ministry of Corporate Affairs
The Ministry of Corporate Affairs is primarily concerned with administration of the Companies Act and other allied Acts, rules and regulations framed there-under mainly for regulating the functioning of the corporate sector in accordance with law. The issuance of securities by
companies is also subject to provisions of the Companies Act. The Registrar of Companies (ROC) is the authority appointed under the Companies Act to register companies and to ensure that they comply with the provisions of the law.
Reserve Bank of India
Reserve Bank of India The Reserve Bank of India is a central bank responsible for formulating and implementing monetary and financial policy. The Reserve Bank of India is responsible for regulating the banking system, managing the public debt, and setting the interest rate. The Reserve Bank of India also provides advice and assistance to other government departments on the management of the monetary and financial systems.
- As the monetary authority: to form
- As the regulator and supervisor of the financial system
- As the manager of Foreign Exchange
- As the issuer of currency
- Developmental role
- Banking functions
Securities and Exchange Board of India
The Securities and Exchange Board of India (SEBI) is a regulatory body responsible for overseeing the securities markets. The SEBI is responsible for regulating the securities markets, monitoring the activities of market participants, and ensuring compliance with applicable laws and regulations. The SEBI also provides advice and assistance to other government departments on the regulation of the securities markets.
Insurance Regulatory and Development Authority of India (IRDAI)
The Insurance Regulatory and Development Authority of India (IRDAI) is a regulatory body responsible for regulating the insurance sector. The IRDAI is responsible for formulating and implementing policies to regulate the insurance sector, monitoring the activities of insurers, and ensuring compliance with applicable laws and regulations. The IRDAI also provides advice and assistance to other government departments on the regulation of the insurance sector.
Pension Fund Regulatory and Development Authority (PFRDA)
The Pension Fund Regulatory and Development Authority (PFRDA) is a regulatory body responsible for regulating the pension sector. The PFRDA is responsible for formulating and implementing policies to regulate the pension sector, monitoring the activities of pension providers, and ensuring compliance with applicable laws and regulations. The PFRDA also provides advice and assistance to other government departments on the regulation of the pension sector.
Insolvency and Bankruptcy Board of India (IBBI)
The Insolvency and Bankruptcy Board of India (IBBI) is a regulatory body responsible for overseeing the insolvency and bankruptcy process. The IBBI is responsible for formulating and implementing policies to regulate the insolvency and bankruptcy process, monitoring the activities of insolvency professionals, and ensuring compliance with applicable laws and regulations. The IBBI also provides advice and assistance to other government departments on the regulation of the insolvency and bankruptcy process.
Important regulations in Indian Securities Market
The Insolvency and Bankruptcy Board of India (IBBI) is a regulatory body responsible for overseeing the insolvency and bankruptcy process. The IBBI is responsible for formulating and implementing policies to regulate the insolvency and bankruptcy process, monitoring the activities of insolvency professionals, and ensuring compliance with applicable laws and regulations. The IBBI also provides advice and assistance to other government departments on the regulation of the insolvency and bankruptcy process.
Regulations | Description |
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The Securities and Exchange Board of India (SEBI) Regulations, 1992 | The primary legal framework for regulating the Indian securities market. Sets out the rules and regulations regarding the issue and trading of securities, the registration and regulation of intermediaries, and other related matters. |
The Securities Contracts (Regulation) Act, 1956 | A law that regulates the trading of securities in the Indian securities market. Requires all stock exchanges to be recognized by the government and to comply with certain standards. Sets out the rules and regulations regarding the trading of securities on the stock exchanges. |
The Depositories Act, 1996 | Regulates the activities of depository participants in the Indian securities market. Sets out the rules and regulations regarding the registration and regulation of depository participants, the custody and transfer of securities, and other related matters. |
The Foreign Exchange Management Act, 1999 | A law that regulates foreign exchange transactions in India. Sets out the rules and regulations regarding the exchange of foreign currency, the transfer of funds from India, and other related matters. |
Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015 | A set of regulations that prohibit insider trading. Sets out the rules and regulations regarding the disclosure of inside information by insiders, the prevention of insider trading, and other related matters. |
Securities and Exchange Board of India (Research Analyst) Regulations, 2014 (amended in December 2016)
The Securities and Exchange Board of India (Research Analyst) Regulations, 2014 (amended in December 2016) govern the activities of research analysts in the Indian securities markets. The regulations set out the rules and regulations regarding the registration of research analysts, the disclosure of research reports, and other related matters. The regulations also provide for the establishment of a research analyst regulatory board, which is responsible for the registration and regulation of research analysts, and for monitoring their activities.