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The Banking Regulation Act 1949, conferred wide

powers upon the RBI to supervise and control the


affairs of banking companies in India.
RBI has powers to supervise and control commercial
and co-operative banks with a view to developing an
adequate and a sound banking system in the country.
The RBI has powers to issue licenses to new banks
and branches, prescribe minimum requirements
regarding paid up capital and reserves, maintenance of
cash and other reserves and inspect the working of
banks in India and abroad.
Monetary stability
Financial stability
Payment system
Credit allocation
Degree of price stability
Note issuing authority
Government bank
Bankers bank
Supervising authority
Exchange control authority
Promotional functions
Regulator of money and credit authority
SEBI has been vested with following powers:

To control and regulate stock exchanges.

To call any information or explanation from a
recognized stock exchanges or their members.

To grant approval to bye-laws of recognized
stock exchanges.



According to section 11 of the SEBI act
specifies the functions as follows:

There are two types of functions performed by
SEBI and they are:

Regulatory functions.
Developmental functions.

Regulation of stock exchange and self
regulatory organizations.

Registration and regulation of stock brokers,
sub -brokers, merchant bankers underwrites
and such others intermediary who is with
securities market.

Prohibition of fraudulent and unfair trade
practices relating to securities market.

Promoting investors education.

Training of intermediaries.

Promoting self regulatory organizations.

Promoting of fair practices and code of conduct
for self regulatory organizations.


Insurance Regulatory and Development
Authority(IRDA) established under IRDA
Act,1999.It is provided for the establishment of
IRDA to protect the interest of policy holder, to
regulate, promote and ensure orderly growth of
the insurance industry. It is situated at
Hydrabad (Head office).


1. To regulate, promote and ensure orderly
growth of the insurance business and reinsurance
business.
2. To renew the registration
3. To direct modification
4. To call for information
5. To order for revaluation
6. To protect the interest of the policyholder




7. To appoint one or more Additional Directors
8. To settle the disputes
9. To regulate investment of funds by Insurance
companies & Maintenance of margin for solvency.
10. To specify the percentage of business to be
underwritten by the insurer in the rural or social
sector.

1. Licensing or Registration
2. Product & its pricing
3. Investment of funds
4. Solvency Margin
5. Appointment of Actuary
6. Accounts & Balance sheet
7. Surveyors & loss Assessor
8. Intermediaries
9. Investigation
10. Reinsurance


The Comptroller & Auditor General(C&AG) of
India plays a very important role in the
Government Audit. The C&AG Act passed by
Parliament in 1971 and amended in 1976 lays
down the duties and rights of the C&AG. C&AG
is appointed by President of India. He can be
removed only when each house of Parliament
decides to do so by a majority of not less than
2/3rd of member of the House present &
voting.



Compilation and submission of Accounts.
Rendering Assistance in Accounts
Maintenance.
Auditing and Reporting .
Auditing Receipts and Expenditure.


Auditing Grants and Loans.
Auditing Receipt of the Union or State.
Auditing Stores and Stock Accounts.
Auditing Government Companies and
Corporation Accounts.

The C&AG has the power to direct the manner in which
the accounts of a company shall be audited by the
auditor and to give such an auditor the instruction in
regards to any matter pertaining to the performance of
his function as such.
He is empowered to conduct a supplementary or test
audit of the accounts of a company .
According to companies act, 1956 u/s 619 (4), the
statutory auditory is also required to submit a copy of
his audit report prepared u/s 227 of the companies act,
1956 to the C&AG.
Accordingly, the C&AG have issued directions to the
auditors in detail.

Ministry of Corporate Affairs(MCA) , earlier
known as Department of Corporate Affairs
(DCA) under Ministry of Finance, is primarily
concerned with the administration of the
Companies Act, 1956, and other allied Acts,
framed there-under for regulating the
functioning of the corporate sector in
accordance with the law.
To provide simplified laws governing Corporate
Sector to facilitate effective compliance and
regulatory regime.
Delivery of all registry related services with
speed, certainty and transparency, access to
public information and effective monitoring of
statutory compliance by the companies.
To encourage corporate sector to adopt good
corporate governance practices and corporate
social responsibility.

To promote investor education and awareness
for creation of appropriate business
environment that facilitate growth of corporate
sector in the country
To develop capacity building and secure policy
advisory support through IICA
Administration of Companies Act and other
Acts under purview of Ministry.
To promote competition and curb anti-
competition practices.
Administration of the Companies Act, 1956 and
other related Acts.
Formulation of Rules and regulations under
various Acts administered by the Ministry.
Convergence of Indian Accounting Standards
with IFRS.
Implementation of Competition Act through the
Competition Commission of India.
e-Governance in MCA
Build systems for early detection of
irregularities in corporate functioning.
Undertaking investor education and awareness
programmes.
To undertake investigation of serious frauds
through the Serious Fraud Investigation Office.
Cadre administration of the Indian Corporate
Law Service.