The government-appointed panel on financial sector reforms has suggested creation of a Unified Financial Authority (UFA) to bring all regulators under one umbrella. The Financial Sector Legislative Reforms Commission (FSLRC), in its Approach Paper, presented to the government recently, proposed to bring in SEBI, IRDA, PFRDA and Forward Markets Commission under the UFA. Talking to reporters in New Delhi, the Commission's Chairman former Justice B N Srikrishna expressed the hope that the proposed reforms will strengthen the Indian economy. Replying to questions, Justice Srikrishna said that the Commission is seeking feedback on its proposals from all the stakeholders by 31st of this month. He said the Commission will submit its final report by 24th of March 2013.
News On AIR | October 4, 2012 7:21 PM
Govt panel suggests creation of UFA to bring regulators under one umbrella