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What are Funcations of RBI, IRDA and SEBI

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Syskool
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What are Functions of RBI, IRDA and SEBI
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RBI, SEBI and IRDA
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Functions of RBI:- A. The Reserve Bank of India is the central bank of India, was established on April 1, 1935 in accordance with the provisions of the Reserve Bank of India Act, 1934. The Reserve Bank of India was set up on the recommendations of the Hilton Young Commission. The commission submitted its report in the year 1926, though the bank was not set up for nine years.To regulate the issue of Bank Notes and keeping of reserves with a view to securing monetary stability in India and generally to operate the currency and credit system of the country to its advantage.” Banker to the Government: performs merchant banking function for the central and the state governments; also acts as their banker.Banker to banks: maintains banking accounts of all scheduled banks

SEBI–SECURITIESAND EXCHANGE BOARD OF INDIA:- SEBI is a capital market regulator means all the capital transactions are governed by sebi its major functions are, protecting the interest of investor in securities market, promoting development of securities market, regulating the securities market……

IRDA—INSURANCE REGULATORY DEVELOPMENT AUTHORITY:- IRDA is the regulatory authority of insurance business its functions are protecting interest of policy holders,specifying proper training,qualification etc to insurance people, levying fees ,commission etc for conducting insurance business, specifying the manner in which insurance company maintain their books of accounts, specifying margin of solvency, specifying general and life insurance business which company can take.

The Securities and Exchange Board of India (SEBI)

By
Syskool
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1
SEBI
SEBI

The Securities and Exchange Board of India (SEBI)

The Securities and Exchange Board of India (SEBI) is the regulator for the securities market in India. It was established in the year 1988 and given statutory powers on 12 April 1992 through the SEBI Act, 1992.

It was officially established by The Government of India in the year 1988 and given statutory powers in 1992 with SEBI Act 1992 being passed by the Indian Parliament. SEBI has its Headquarters in the business district of Bandra Kurla Complex in Mumbai and has Northern, Eastern, Southern and Western Regional Offices in New Delhi, Kolkata, Chennai and Ahmedabad respectively.

Controller of Capital Issues was the regulatory authority before SEBI came into existence; it derived authority from the Capital Issues (Control) Act, 1947.

The SEBI is managed by its members, which consists of following: The chairman who is nominated by Union Government of India. Two members, i.e. Officers from Union Finance Ministry. One member from The Reserve Bank of India. The remaining 5 members are nominated by Union Government of India, out of them at least 3 shall be whole-time members.

Upendra Kumar Sinha was appointed chairman on 18 February 2011 replacing C. B. Bhave

The Preamble of the Securities and Exchange Board of India describes the basic functions of the Securities and Exchange Board of India as “…to protect the interests of investors in securities and to promote the development of, and to regulate the securities market and for matters connected therewith or incidental thereto”.

SEBI has to be responsive to the needs of three groups, which constitute the market: the issuers of securities, the investors, the market intermediaries.

SEBI has three functions rolled into one body: quasi-legislative, quasi-judicial and quasi-executive. It drafts regulations in its legislative capacity, it conducts investigation and enforcement action in its executive function and it passes rulings and orders in its judicial capacity. Though this makes it very powerful, there is an appeal process to create accountability. A second appeal lies directly to the Supreme Court.

There is a Securities Appellate Tribunal (SAT) which is a three-member tribunal and is presently headed by Mr. Justice J P Devadhar, a former judge of the Bombay High Court.

SEBI has been active in setting up the regulations as required under law. SEBI did away with physical certificates that were prone to postal delays, theft and forgery, apart from making the settlement process slow and cumbersome by passing Depositories Act, 1996.

SEBI has also been instrumental in taking quick and effective steps in light of the global meltdown and the Satyam fiasco. In October 2011, it increased the extent and quantity of disclosures to be made by Indian corporate promoters. In light of the global meltdown, it liberalized the takeover code to facilitate investments by removing regulatory structures.

EVERYDAY SCIENCE

By
Syskool
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3
everyday science

Q. Why is fire extinguished by sodium bicarbonate?

A. Sodium bicarbonate decomposes on heating to produce carbon dioxide gas. The gas is neither combustible nor a supporter of combustion, so it extinguishes the fire quickly.

Q. What are Gamma Rays?

A. These are short-wave electro-magnetic radiations similar to light and X- rays. The penetrating power of these rays is extremely high, even greater than X- rays. They can penetrate through 6 inches of steel. Gamma rays are not deflected by strong electric or magnetic fields. However, these are harmful to living tissues.

Q. What is a liquid?

A. It is a state of matter intermediate between a gas and a solid. A liquid may be considered as a condensed gas or a molten solid. The molecules are rigidly fixed in a solid and, therefore, it has a definite shape as well as volume. The molecules are free to move in a gas and, therefore, it has neither a definite volume nor a definite shape. The molecules are relatively free to move in a liquid, but this freedom is much more restricted on account of cohesive forces. A liquid, therefore, has a definite volume, but no definite shape. A liquid takes the shape of the vessel in which it is poured. It is only slightly compressible.

Bureau of Indian Standards (BIS)

By
Syskool
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4
BIS
BIS

Bureau of Indian Standards (BIS)

The Bureau of Indian Standards (BIS) is the national Standards Body of India working under the aegis of Ministry of Consumer Affairs, Food & Public Distribution, and Government of India. It is established by the Bureau of Indian Standards Act, 1986 which came into effect on 23 December 1986. The Minister in charge of the Ministry or Department having administrative control of the BIS is ex-officio President (Emaad Amin) of the BIS.

The organization was formerly the Indian Standards Institution (ISI), set up under the Resolution of the then Department of Industries and Supplies, dated 3 September 1946. The ISI was registered under the Societies Registration Act, 1860.

Read Also: Environmental Jurisprudence

The Bureau is a Body Corporate consisting of 25 members representing both Central and State Governments, industry, scientific and research institutions, and consumer organizations. Its headquarters are in New Delhi, with regional offices in Kolkata, Chennai, Mumbai, Chandigarh and Delhi and 20 branch offices.

BIS is a founder member of International Organisation for Standardization (ISO). It represents India in ISO, the International Electrotechnical Commission (IEC) and the World Standards Service Network (WSSN).

The BIS product Certification Scheme is one of the largest in the world. It is in existence for more than 58 years. ISI mark on their product, which is synonymous with quality products. BIS also operates Foreign Manufacturers Certification Scheme under which overseas manufacturers can be granted the licence to use the BIS Standard Mark.

One of the major functions of the Bureau is the formulation, recognition and promotion of the Indian Standards. As on 31 August 2013, Standards formulated by BIS, are in force. These cover important segments of an economy, which help the industry in upgrading the quality of their products and services.

Certification Schemes based on the categorization of products in terms of risk to health; safety; environment; products from small scale to large scale industry; maturity of an industry as a whole for the product etc. have been introduced.

Must Read: PM Urged to Revamp Medical Council of India (MCI)

Objectives

  • Harmonious development of standardization, marking and quality certification
  • To provide new thrust to standardization and quality control
  • To evolve a national strategy for according recognition to standards and integrating them with growth and development of production and exports

An I – Care Programme has been launched at the national level for effectively engaging with all stakeholders especially consumers, industry, and market. I – Care Programme also aims at enhancing interaction with industries to solve their problem and encourage them to come forward to take a licence from BIS.

Must Read:

ISRO successfully launches third navigation satellite IRNSS 1C

Real story of American Dollar v/s Indian Rupee

By
Syskool
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16



Throughout the country please stop using cars except for emergency for only seven days (Just 7 days)
Definitely Dollar rate will come down. This is true. The value to dollar is given by petrol only.This is called Derivative Trading. America has stopped valuing its Dollar with Gold 70 years ago.

Americans understood that Petrol is equally valuable as Gold so they made Agreement with all the Middle East countries to sell petrol in Dollars only. That is why Americans print their Dollar as legal tender for debts. This mean if you don’t like their American Dollar and go to their Governor and ask for repayment in form of Gold,as in India they won’t give you Gold.

You observe Indian Rupee, ” I promise to pay the bearer…” is clearly printed along with the signature of Reserve Bank Governor. This mean, if you don’t like Indian Rupee and ask for repayment,Reserve Bank of India will pay you back an equal value of gold.(Actually there may be minor differences in the Transaction dealing rules, but for easy comprehension I am explaining this)

Let us see an example. Indian petroleum minister goes to Middle East country to purchase petrol, the Middle East petrol bunk people will say that liter petrol is one Dollar.
But Indians won’t have dollars. They have Indian Rupees. So what to do now? So That Indian Minister will ask America to give Dollars. American Federal Reserve will take a white paper , print Dollars on it and give it to the Indian Minister. Like this we get dollars , pay it to petrol bunks and buy petrol.

But there is a fraud here. If you change your mind and want to give back the Dollars to America we can’t demand them to pay Gold in return for the Dollars. They will say ” Have we promised to return something back to you? Haven’t you checked the Dollar ? We clearly printed on the Dollar that it is Debt”
So, Americans don’t need any Gold with them to print Dollars. They will print Dollars on white papers as they like.

But what will Americans give to the Middle East countries for selling petrol in Dollars only?

Middle East kings pay rent to America for protecting their kings and heirs. Similarly they are still paying back the Debt to America for constructing Roads and Buildings in their countries. This is the value of American Dollar. That is why Many say some day the Dollar will be destroyed.

At present the problem of India is the result of buying those American Dollars. American white papers are equal to Indian Gold. So if we reduce the consumption of petrol and cars, Dollar will come down

The Above Details are translated originally from Telugu Language to English by Radhika Gr.
Kindly share this and make everyone aware of the facts of American Dollar V/s Indian Rupee.

And here is a small thing other than petrol , what we can do to our Indian Rupee

YOU CAN MAKE A HUGE DIFFERENCE TO THE INDIAN ECONOMY BY FOLLOWING FEW SIMPLE STEPS:-

Please spare a couple of minutes here for the sake of India.
Here’s a small example:-

At 2008 August month 1 US $ = INR Rs 39.40
At 2013 August now 1 $ = INR Rs 62

Do you think US Economy is booming? No, but Indian Economy is Going Down.

Our economy is in your hands.INDIAN economy is in a crisis. Our country like many other ASIAN countries, is undergoing a severe economic crunch. Many INDIAN industries are closing down. The INDIAN economy is in a crisis and if we do not take proper steps to control those, we will be in a critical situation. More than 30,000 crore rupees of foreign exchange are being siphoned out of our country on products such as cosmetics, snacks, tea, beverages, etc. which are grown, produced and consumed here.

A cold drink that costs only 70 / 80 paise to produce, is sold for Rs.9 and a major chunk of profits from these are sent abroad. This is a serious drain on INDIAN economy. We have nothing against Multinational companies, but to protect our own interest we request everybody to use INDIAN products only at least for the next two years. With the rise in petrol prices, if we do not do this, the Rupee will devalue further and we will end up paying much more for the same products in the near future.

What you can do about it?
Buy only products manufactured by WHOLLY INDIAN COMPANIES.Each individual should become a leader for this awareness. This is the only way to save our country from severe economic crisis. You don’t need to give-up your lifestyle. You just need to choose an alternate product.

Daily products which are COLD DRINKS,BATHING SOAP ,TOOTH PASTE,TOOTH BRUSH ,SHAVING CREAM,BLADE, TALCUM POWDER ,MILK POWDER ,SHAMPOO , Food Items etc. all you need to do is buy Indian Goods and Make sure Indian rupee is not crossing outside India.

Every INDIAN product you buy makes a big difference. It saves INDIA. Let us take a firm decision today.

we are not anti-multinational. we are trying to save our nation. every day is a struggle for a real freedom. we achieved our independence after losing many lives.
they died painfully to ensure that we live peacefully. the current trend is very threatening.

multinationals call it globalization of indian economy. for indians like you and me, it is re-colonization of india. the colonist’s left india then. but this time, they will make sure they don’t make any mistakes.

russia, s.korea, mexico – the list is very long!! let us learn from their experience and from our history. let us do the duty of every true indian. finally, it’s obvious that you can’t give up all of the items mentioned above. so give up at least one item for the sake of our country!

We would be sending useless forwards to our friends daily. Instead, please forward this to all your friends to create awareness. — with franklin and gandhi.

 
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