[sbinews] Standing Technical Advisory Committee on Financial Regulation-Business Standard

  • From: rspai@xxxxxxxx
  • To: sbinews@xxxxxxxxxxxxx
  • Date: Fri, 21 Nov 2003 21:35:25 +0500

Advisory panel on regulation set up 
Business Standard
Our Banking Bureau in Mumbai 
Published : November 21, 2003 

The Reserve Bank of India has constituted a ‘Standing Technical Advisory 
Committee on Financial Regulation’ to strengthen the consultative process among 
banks, market participants and regulators of financial markets. 

The committee, which will initially function for two years from the date of its 
first meeting, will meet as often as may be necessary, but ordinarily once in 
two months. 

The committee will be headed by K J Udeshi, deputy governor, Reserve Bank of 
India. Its members are: A K Purwar, chairman, State Bank of India; S S Kohli, 
chairman and managing director, Punjab National Bank; A K Batra, member 
Securities & Exchange Board of India; M Damodaran, acting CMD, Industrial 
Development Bank of India; P J Nayak, managing director, UTI Bank; Niall S K 
Booker, CEO - India, HSBC; M G Bhide, director, CRISIL; N L Mitra, vice 
chancellor, National Law University; G K Raman, director, Sundaram Finance Ltd; 
H N Sinor, CEO & secretary, Indian Banks’ Association. 

The committee will review current regulatory regime with a view to help the RBI 
simplifying and rationalising it and consider the existing regulatory practices 
on prudential norms and disclosure standards for banks and non banks regulated 
by RBI and recommend measures for progressive alignment with international best 
practices consistent with India’s needs. 

It will advise on the changes needed in the regulatory framework in the light 
of the emerging diversification of business mix of the financial services 
industry and also help analyse, as appropriate, harmonization of regulatory and 
prudential norms for the various entities in the financial services sector in 
alignment with prescriptions of other regulators. 

The committee will explore appropriate regulatory responses to developments in 
the banking and financial markets and outline the steps to be taken by the RBI 
and banking entities in the context of Basel II norms. 

The permanent invitees to the committee are : RBI deputy governors, Vepa 
Kamesam and Rakesh Mohan; and executive director, Shyamala Gopinath. 

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