...........There have been examples of piecemeal transfer of authority to subordinate legislation in the past. In the last decade, RBI got the power to set statutory liquidity ratio (SLR) and cash reserve ratio (CRR) levels, unencumbered by limits set under laws earlier. Some regulations had moved from the Companies Act to Sebi and the Insurance Act to Insurance Regulatory and Development Authority (Irda). The prohibition on preference share issues by State Bank of India (SBI) was removed and thereafter it needs to follow RBI regulations on preference capital. There was an individual shareholding limit of 200 shares listed SBI associate banks, and that too only in paper certificates form—this was repealed and harmonized with Sebi rules.............
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