Q. Which of the following reforms were recommended by the Financial Sector Legislative Reforms Commission (FSLRC)?
Select the correct answer using the codes given below:
Explanation:
Financial Sector Legislative Reforms Commission (FSLRC) was set up by the Indian Government in pursuance of the announcement made in Union Budget 2010-11 to help rewriting and harmonizing the financial sector legislation, rules and regulations. It recommended the following:
Statement 1 is correct: It proposed a Unified Financial Agency for regulation and supervision of all non-bank and payments related markets by merging SEBI, FMC, IRDA and PFRDA.
Statements 2 and 3 are correct: It proposed two new entities-
Statement 4 is correct: It proposed a Resolution Corporation for resolving works across the entire financial system.