Question

Consider the following with respect to Sri Krishna Committee report:

1. It recommended setting up of Unified financial authority
2. Resolution corporation was a body recommended by it to replace Insolvency and Bankruptcy code

Which of the above are correct?

• A.
  1 only
• B.
  2 only
• C.
  Both 1 and 2
• D.
  None of the above

Answer 1

The correct option is A

1 only
As per the suggestions made by Financial Sector Legislative Reforms Commission (FSLRC), headed by former Justice B. N. Srikrishna, key regulators such as the Securities and Exchange Board of India (SEBI), the Insurance Regulatory and Development Authority (IRDA), the Pension Fund Regulatory and Development Authority (PFRDA) and the Forward Markets Commission (FMC) should be merged into a Unified Financial Agency (UFA).

Resolution corporation was a body recommended by it to replace DICGC