Subsequent to our earlier post in the Consumer Protection series, this post covers conduct and disclosure obligations of Australian Financial Services (AFS) License holders for provision of advice to retail clients.
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A well-functioning and resilient financial system needs a good mix of institutions that collectively meet the financial intermediation needs of the country, be it individuals, households, businesses, sectors and local governments, while simultaneously enhancing the stability of the system as a whole.
Senior Research Associate
Deputy ED and Head of Strategy
Head - Financial Systems Design
Research Associate
Research Associate
Senior Research Associate
Subsequent to our earlier post in the Consumer Protection series, this post covers conduct and disclosure obligations of Australian Financial Services (AFS) License holders for provision of advice to retail clients.
Governments have proven to be too inefficient, the non-profits too small and the corporates too greedy to provide basic services. What about for-profit social enterprises?
NBFCs play a critical role in furthering the goal of financial inclusion. It is our view that in order to make access to financial services universal, while ensuring systemic stability, we need to build on the separate natural strengths of banks and NBFCs.
Following the sessions by Dr. Isher Ahluwalia and Mr. Vikram Kapur, (covered in this post) the workshop participants discussed critical topics such as decentralisation and governance, political economy and institutional fragmentation, revenue generation and infrastructure financing, water and sanitation, capacity building, and land and city growth.
The first IFMR Conference on Financial Systems Design was held at our office in Chennai on Aug 5-6, 2011. The objective of the conference was to engage in an in-depth conversation on the future of the Indian financial system and some of the underlying design challenges being faced in various markets.
Subsequent to our earlier posts detailing the three broad themes from the IFMR Financial Systems Design Conference 2011, Day 2 of the conference witnessed participants identify pathways to achieve the specific visions that were formulated across the sessions in Origination, Risk Transmission and Aggregation.
The Draft Micro Finance Institutions (Regulations and Development) Bill 2011 (the Bill) seeks to cover all entities engaged in ‘microfinance activities’ under a single regulator (the Reserve Bank of India) and prescribes various rules for such institutions.
Future financial services providers will be akin to general physicians, who bear great responsibility for the health of their patients. Such a prescriptive approach would minimise instances of unsuitable advice.
In a stylised sense, there are two fundamentally different perspectives for analysis of financial systems.
[This post is the fourth in a series on the theme “regulatory architecture of India’s financial system”. IFMR Blog will continue to feature this theme till the third week of June.]
In all our research efforts, we strive to maintain an independent voice that speaks for the low-income household and household enterprises. Our ability to perform this function is significantly enhanced by our commitment to disseminate as a pure public good, all the intellectual capital that we create.
