The Financial Sector Legislative Reforms Commission, chaired by Justice Srikrishna, has recently released its two-volume Report containing a series of wide-ranging suggestions on the manner in which the financial sector has been regulated in this country. One of the major reforms suggested by the Commission is a draft “Indian Financial Code” for regulating financial institutions in the country. This Code is intended to replace the bulk of the country’s existing financial law.
The Commission, which was constituted on March 24, 2011, consisted of experts in law . . .
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