Basic Economics Series Part 4(Major Financial Institutions In India)

Securities and Exchange Board of India (SEBI) was setup in 1988 and given statutory powers in 1992. SEBI regulates stock/Security markets.It has its headquarters in Mumbai.

Forward Markets Commission (FMC) was setup in 1954. FMC is apex or top institution to regulate commodity marketing. It has its headquarters in Mumbai.

Insurance Regulatory and Development Authority (IRDA) was setup in 2000. IRDA is apex institution to regulate insurance sector. It has its headquarters in Hyderabad.

Pension Fund Regulatory and Development Authority (PFRDA) was setup in 2003. PFRDA regulates pension funds and hence ensures income security for senior citizens.It has its headquarters in New Delhi.

Small Industries Development Bank of India(SIDBI) setup in 1990. It is a developmental financial institution which was setup to promote small and medium Enterprise.

Payment and Settlement system will be discussed in next article.

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