Learn what a regulatory body is, how regulatory bodies are created, their powers, functions, and an updated list of regulatory bodies in India, especially for UPSC preparation.
theIAShub | 03 Mar, 2025 | 404 | 0
Regulatory Bodies in India provide needed guidance, direction and most importantly regulation to the different components of the society Thus, regulatory bodies are created to control the functions and check dysfunctions in the society.
A regulatory body is an organization established by the government to monitor and control specific sectors. These bodies enforce rules, ensure fair competition, and protect public interests. Unlike statutory bodies that may focus on policy implementation, regulatory bodies primarily oversee compliance and governance in various industries.
India has several regulatory bodies across different sectors. Here are some of the key ones:
These bodies ensure that their respective sectors function smoothly, promoting fairness and efficiency.
Regulatory bodies in India are formed through legislation passed by Parliament or state legislatures. They derive their authority from specific acts that define their structure, functions, and powers. Some are independent, while others operate under government supervision. For example, the Securities and Exchange Board of India (SEBI) was created through the SEBI Act, 1992, and the Telecom Regulatory Authority of India (TRAI) was established under the TRAI Act, 1997.
Regulatory bodies in India exercise authority to ensure proper functioning of the sectors they govern. Their key powers include:
These powers help maintain order, promote transparency, and prevent malpractices in various industries.
Regulatory bodies serve distinct functions to ensure economic and social stability. Their responsibilities include:
By executing these functions, regulatory bodies contribute to a well-regulated and efficient economic system.
Regulatory bodies are created through laws passed by Parliament or state legislatures, which define their powers, functions, and governance structure.
Regulatory bodies monitor compliance, enforce laws, regulate markets, protect consumer rights, and promote fair competition across various sectors.
Important regulatory bodies in India include SEBI for stock markets, RBI for banking, TRAI for telecom, IRDAI for insurance, and FSSAI for food safety.
Regulatory bodies are crucial for understanding governance, economic policies, and administrative mechanisms, making them a key topic in UPSC exams.
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