.......The Financial Sector Legislative Reforms Commission (FSLRC), which submitted its report to the finance minister on Friday, undertook a very different exercise in drafting law. Instead of whipping up a hurried response to a crisis situation, as has been the dominant style in the UPA's tenure, this was a considered, two-year-long effort at financial sector regulatory reform. The FSLRC takes a rare fresh look at the law. Instead of tinkering with the text of the 60-odd laws that make up the Indian financial system, the commission has written a brand new law, the Indian Financial Code............
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