Question
Which of the following regulatory body has recently
joined the Reserve Bank of India’s (RBI’s) Account Aggregator framework?Solution
CERC-: Central Electricity Regulatory Commission (CERC), a key regulator of power sector in India, is a statutory body functioning with quasi-judicial status under sec – 76 of the Electricity Act 2003. PFRDA-: Pension Fund Regulatory and Development Authority is the regulatory body under the jurisdiction of Ministry of Finance, Government of India for overall supervision and regulation of pension in India. NABARD-: (NABARD) is an apex regulatory body for overall regulation of regional rural banks and apex cooperative banks in India. It is under the jurisdiction of Ministry of Finance, Government of India. APEDA-: Agricultural and Processed Food Products Export Development Authority (APEDA) is an Indian Apex-Export Trade Promotion Active government body. SEBI-: Securities and Exchange Board of India is the regulatory body for securities and commodity market in India under the ownership of Ministry of Finance, Government of India. It was established on 12 April 1988 as an executive body and was given statutory powers on 30 January 1992 through the SEBI Act, 1992. Securities Exchange Board of India (SEBI) joined the Reserve Bank of India’s (RBI’s) Account Aggregator framework. The move will allow customers to share information about their mutual fund and stock holdings with financial service providers. With this move, the entire trading system, depository system, as well as mutual fund system will soon be online in the Account Aggregator system.
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