staff unions on the other.
Securities Exchange Board of India (SEBI): It is regulatory authority of stock exchanges and protects investors from fraudulent dealings. It was established in April
1988 and awarded statutory status by Act of parliament in 1992. SEBI Head quarters located in Mumbai.
Insurance Regulatory & Development Authority (IRDA): It is apex body formed under Sec.4 of IRDA Act 1999 to protect the interests of the policyholders to regulate promote and ensure orderly growth of the insurance industry in India
Non Banking Financial Company (NBFC): These are companies which have functions similar to banking like accepting deposits and making loans. However they
do not have license for banking, although they are regulated by RBI.
Deposit Insurance & Credit Guarantee Corporation (DI&CGC): It is a wholly owned subsidiary of RBI which provides an insurance cover of Rs.1lakh per depositor per bank in case of bank failure. It also provides guarantee of repayment amount in default of small loans given by banks.
Export Credit Guarantee Corporation of India (ECGC): ECGC is a Govt. body which provides export credit insurance facilities to exporters and banks in India. It
encourages Indian exporters by giving them credit insurance covers.
Banking Codes and Standards Board of India: It is an industry watch dog set up by RBI to monitor and assess the compliance with codes and minimum standards of service to individual customers, as prescribed by the RBI.
Credit Rating: Credit Rating is an assessment of the probability of default on payment of interest and principal on a debt instrument. In simple words, it ranks the
company or country’s ability to meet their debt obligations.
Credit Information Report: A Credit Information Report is a factual record of a borrower’s credit payment history compiled from information received from different credit grantors. Its purpose is to help credit grantors make informed lending decisions quickly and objectively.
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