rbi speech, 2024-04-08
The notable changes over the last couple of decades include the statutory amendments for (i) strengthening the legal framework for oversight of non-banking financial companies (NBFCs) (1997); (ii) consolidating the laws related to government securities into Government Securities Act (2006); (iii) providing the legal framework for regulation of key financial markets (2006); (iv) enactment of the Payment and Settlement Systems Act to vest the Reserve Bank with the authority to regulate and supervise the payment systems in India (2007); (v) institutionalisation of the flexible inflation targeting framework (2016); (vi) vesting the Reserve Bank with the authority to regulate housing finance companies through an amendment of the National Housing Bank Act, 1987 (2019); (vii) strengthening the regulatory framework for cooperative banks by amendment of the Banking Regulation Act, 1949, (As Applicable to Cooperative Societies) (2020); and (viii) enabling the issuance of the central bank digital
Sentiment: neutral
Topic: mp_economic_activity