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Dear Readers, Today we are going to discuss about all public authorities or government agencies tasked with creating the norms of a particular area of human activity and supervising all the bodies that are employed in that activity. Let us learn which the important Regulatory Bodies in India are and who they regulate in this list. Also find out the full forms of different regulatory bodies, the heads of each as well as their headquarters.

Important Regulatory Bodies in India

1. RBI – Reserve Bank of India

  • Sector: Banking & Finance, Monetary Policy
  • Head: Governor – Urjit Patel
  • Headquarters: Mumbai

RBI was established on 1 April 1935 with the sole aim to work as banking sector regulator .RBI was nationalized in 1949.RBI regulate the banking sector (government and private banks) by banking regulation act 1949 and RBI act 1935 which entrusted responsibility on the RBI
to work for the enhancement of banking sector in India .RBI is the sole authority to issue banking licenses to entities who want to open bank in India , and if any bank want to open new branch it has to be take prior approval from RBI. 
The main aim of RBI is to provide banking services to the last mile of country .To full this initiative RBI has started financial inclusion program .In this RBI mandated all banks in India to open at least 25 percent braches in rural areas. RBI also ensure that adequate credit is provide to rural areas by priority sector lending In this RBI has mandated all banks including foreign banks working in India to provide 40 percent of their loans to priority sector like agriculture, student loans etc .If any bank found violating RBI policy ,it has power to take action against it . 
RBI do supervision functions and regular checks to ensure that financial health of banks is maintained .RBI ensure that all banks follow the government guidelines for the banking sector. If any bank found indulging in activities against people interest and violating government polices RBI can fine bank including private banks.  The term of RBI governor is for three years and appointed by GOI.


2. SEBI - Securities and Exchange Board of India

  • Sector: Securities (Stock) & Capital Market
  • Head: Chairman – U.K.Sinha
  • Headquarters: Mumbai

SEBI was enacted on April 12, 1992 in accordance with the provisions of the Securities and Exchange Board of India Act, 1992. The main aim of SEBI is to protect the interest of investor in securities .It is sole regulator for all stock exchanges in India. SEBI regulate the capital markets in India .If any company want to bring IPO it needs prior approval from SEBI .It is entrusted with responsibility to protect the interest of investor in stock exchange , ensure the growth of securities market ,regulate and develop a code of conduct for intermediaries such as brokers, underwriters, etc. 


The chairman of SEBI is appointed by GOI .The term of SEBI chairman is for three years 

3. IRDAI - Insurance Regulatory and Development Authority

  • Sector: Insurance
  • Head: Chairman – T.S. Vijayan
  • Headquarters: Hyderabad

IRDA was establishes in 1999 by the IRDA act ,1999 .It is the autonomous body established by act of parliament .It aim is to ensure growth of insurance sector in India. 


IRDA was established as sole authority to regulate the insurance industry in India , to ensure the growth of insurance industry and protect the interest of policy holders. 



For any company want to work in insurance sector needs prior approval of IRDA .It also perform supervision functions to ensure that different insurance companies including private following rules and regulations or not .It can take action against erring companies .IRDA works to protect the interest of policy holder and to regulate, promote and ensure orderly growth of the insurance industry. 



The chairman of IRDA is appointed by GOI .The term of IRDA chairman is for five years.

4. PFRDA - Pension Fund Regulatory & Development Authority

  • Sector: Pension
  • Head: Chairman - Hemant Contractor
  • Headquarters: New Delhi

PFRDA is the regulatory body for all the pension funds in India .The Pension Fund Regulatory & Development Authority Act was passed on 19th September, 2013.PFRDA regulate the pension sector and works for its development, formulate policies for pension sector.PFRDA is regulating NPS, subscribed by employees of Govt. of India, State Governments and by employees of private institutions/organizations & unorganized sectors. 


Term of PFRDA chairman is for five years and appointed by GOI. 

5. NABARD - National Bank for Agriculture and Rural Development

  • Sector: Financing Rural Development
  • Head: Chairman – Harsh Bhanwala
  • Headquarters: Mumbai

NABARD was established on 12 July 1982 by the act of parliament .NABARD is the apex institution for the development of farm sector , cottage industries and small scale industries in rural areas. The Banking Regulation Act, 1949, empowers NABARD to conduct inspection of State Cooperative Banks (SCBs), Central Cooperative Banks (CCBs) and Regional Rural Banks (RRBs) and protect interest of the present and future depositor and also provide short and medium term loan to those banks working in rural areas development .It provides his expertise in rural areas to RBI and GOI in making policies. 


The chairman of NABARD is appointed by GOI .The term of NABARD chairman is for three years 


6. SIDBI - Small Industries Development Bank of India

  • Sector: Financing Micro, Small and Medium-Scale Enterprises
  • Head: Chairman – Kshatrapati Shiaji
  • Headquarters: Lucknow

Small Industries Development Bank of India (SIDBI), set up on April 2, 1990 under an Act of Indian Parliament, acts as the Principal Financial Institution for the Promotion, Financing and Development of the Micro, Small and Medium Enterprise (MSME) sector and for Co-ordination of the functions of the institutions engaged in similar activities.


7. NHB - National Housing Bank

  • Sector: Financing Housing
  • Head: MD & CEO – Sriram Kalyanaraman
  • Headquarters: New Delhi

National Housing Bank (NHB), a wholly owned subsidiary of Reserve Bank of India (RBI), was set up on 9 July 1988 under the National Housing Bank Act, 1987. NHB is an apex financial institution for housing. NHB has been established with an objective to operate as a principal agency to promote housing finance institutions both at local and regional levels and to provide financial and other support incidental to such institutions and for matters connected therewith.

NHB registers, regulates and supervises Housing Finance Company (HFCs), keeps surveillance through On-site & Off-site Mechanisms and co-ordinates with other Regulators.

8. TRAI - Telecom Regulatory Authority of India

  • Sector: Telecommunication & Tariffs
  • Head: Chairman – Ram Sewak Sharma
  • Headquarters: New Delhi

Telecom Regulatory authority of India was established on 20 February 1997 by an Act of Parliament to regulate telecom services and tariffs in India. Earlier regulation of telecom services and tariffs was overseen by the Central Government.

TRAI's mission is to create and nurture conditions for growth of telecommunications in India to enable the country to have a leading role in the emerging global information society.

One of its main objectives is to provide a fair and transparent environment that promotes a level playing field and facilitates fair competition in the market. TRAI regularly issues orders and directions on various subjects such as tariffs, interconnections, quality of service, Direct To Home (DTH) services and mobile number portability.

In January 2016, TRAI introduced an important change in telecommunication that would benefit all consumers. Effective from 1 January 2016, consumers will be compensated for call drops. However, there is a catch, per the rule, mobile users will get a compensation of Re 1 for every dropped call but it will be limited to a maximum three dropped calls in a day. This regulation has been quashed by Supreme Court on the ground of being "unreasonable, arbitrary and unconstitutional"

9. CBFC – Central Board of Film Certification

  • Sector: Film/TV Certification & Censorship
  • Head: Chairman – Pahlaj Nihalani
  • Headquarters: Mumbai

The Central Board of Film Certification (CBFC) (often referred to as the Censor Board) is a statutory censorship and classification body under the Ministry of Information and Broadcasting, Government of India. It is tasked with "regulating the public exhibition of films under the provisions of the Cinematograph Act 1952". Films can be publicly exhibited in India only after they are certified by the Board, including films shown on television. CBFC India is considered to be one of the most powerful film censor boards in the world due to its strict ways of functioning.

Though the first film in India (Raja Harishchandra) was produced in 1913 by Dadasaheb Phalke, the Indian Cinematograph Act was passed and came into effect only in 1920. Censor Boards (as they were called then) were placed under police chiefs in cities of Madras (now Chennai), Bombay (now Mumbai), Calcutta (now Kolkata), Lahore (now in Pakistan) and Rangoon (now Yangon in Burma). Regional censors were independent. After Independence autonomy of regional censors was abolished and they were brought under the Bombay Board of Film Censors. With implementation of Cinematograph Act, 1952, the board was unified and reconstituted, as the Central Board of Film Censors. Cinematograph (Certification) Rules were revised in 1983 and since then the Central Board of Film Censors became known as the Central Board of Film Certification.

10. FIPB – Foreign Investment Promotion Board

  • Sector: Foreign Direct Investment
  • Head: Chairman (Secretary, Dept. of Economic Affairs, GOI) – Shaktikanta Das
  • Headquarters: New Delhi

The Foreign Investment Promotion Board (FIPB) was a national agency of Government of India, with the remit to consider and recommend foreign direct investment (FDI) which does not come under the automatic route. It acted as a single window clearance for proposals on foreign direct investment (FDI) in India. The Foreign Investment Promotion Board (FIPB) was housed in the Department of Economic Affairs, Ministry of Finance. FIPB was abolished on 24 May 2017, as announced by Finance Minister Arun Jaitley during 2017-2018 budget speech in Lok Sabha

11. FSDC – Financial Stability and Development Council

  • Sector: Financial Sector Development
  • Head: Chairman (Finance Minister, GOI) – Arun Jaitley
  • Headquarters: New Delhi

Financial Stability and Development Council (FSDC) is an apex-level body constituted by the government of India. The idea to create such a super regulatory body was first mooted by the Raghuram Rajan Committee in 2008. Finally in 2010, the then Finance Minister of India, Pranab Mukherjee, decided to set up such an autonomous body dealing with macro prudential and financial regularities in the entire financial sector of India. An apex-level FSDC is not a statutory body. The recent global economic meltdown has put pressure on governments and institutions across the globe to regulate their economic assets. This council is seen as India's initiative to be better conditioned to prevent such incidents in future. The new body envisages to strengthen and institutionalise the mechanism of maintaining financial stability, financial sector development, inter-regulatory coordination along with monitoring macro-prudential regulation of economy.

12. FSSAI – Food Safety and Standards Authority of India

  • Sector: Food
  • Head: Chairman – Ashish Bahuguna
  • Headquarters: New Delhi

Food Safety and Standards Authority of India (FSSAI) is an autonomous body established under the Ministry of Health & Family Welfare, Government of India.[3] The FSSAI has been established under the Food Safety and Standards Act, 2006 which is a consolidating statute related to food safety and regulation in India.[3] FSSAI is responsible for protecting and promoting public health through the regulation and supervision of food safety.[3]

13. BIS – Bureau of Indian Standards

  • Sector: Standards & Certification
  • Head: Director General – Alka Panda
  • Headquarters: New Delhi

The Bureau of Indian Standards (BIS) is the national Standards Body of India working under the aegis of Ministry of Consumer Affairs, Food & Public Distribution, Government of India. It is established by the Bureau of Indian Standards Act, 1986 which came into effect on 23 December 1986. The Minister in charge of the Ministry or Department having administrative control of the BIS is the ex-officio President of the BIS.

The organisation was formerly the Indian Standards Institution (ISI), set up under the Resolution of the then Department of Industries and Supplies No. 1 Std.(4)/45, dated 3 September 1946. The ISI was registered under the Societies Registration Act, 1860.

As a corporate body, it has 25 members drawn from Central or State Governments, industry, scientific and research institutions, and consumer organisations. Its headquarters are in New Delhi, with regional offices in Kolkata, Chennai, Mumbai, Chandigarh and Delhi and 20 branch offices. It also works as WTO-TBT enquiry point for India

14. ASCI – Advertising Standards Council of India

  • Sector: Advertising
  • Head: Chairman – Narendra Ambwani
  • Headquarters: Mumbai

The Advertising Standards Council of India (ASCI) is a self-regulatory voluntary organization of the advertising industry in India. It is a non-Government body.

15. BCCI – Board of Control for Cricket in India

  • Sector: Cricket
  • Head: President – Vinod Rai
  • Secretary – Amitabh Chaudhary
  • Headquarters: Mumbai

The Board of Control for Cricket in India (BCCI) is the national governing body for cricket in India. The board was formed in December 1928 as a society, registered under the Tamil Nadu Societies Registration Act. It is a consortium of state cricket associations and the state associations select their representatives who in turn elect the BCCI officials.

16. AMEI – Association of Mutual Funds of India

  • Sector: Mutual Funds
  • Head: C.V.R Rajendran
  • Headquarters: Mumbai

The Association of Mutual Funds in India (AMFI) is an industry standards organisation in India in the mutual funds sector. It was formed in 1995. Most mutual funds firms in India are its members. The organisation aims to develop the mutual funds market in India, by improving ethical and professional standards. AMFI was incorporated on 22 August 1995. As of April 2015, there are 44 members.
A visible and ethical impact created by AMFI can be seen in advertisements of mutual funds where the instructions concerning the risky nature of mutual funds investments is clearly mentioned.

17. EEPC – Engineering Export Promotional Council of India

  • Sector: Trade and Investment
  • Head: Chairman – Rakesh Shah
  • Vice Chairman – V S Anand
  • Headquarters:  Kolkata

EEPC India is the premier trade and investment promotion organization in India. It is sponsored by the Ministry of Commerce & Industry, Government of India and caters to the Indian engineering sector. As an advisory body it actively contributes to the policies of Government of India and acts as an interface between the engineering industry and the Government.

Set up in 1955, EEPC India now has a membership base of over 12,000 out of whom 60% are SMEs.

18. EICI – Express Industry Council of India

  • Sector: Trade
  • Head: Chairman – R.K Saboo
  • Vice Chairman – Taarek Hinedi
  • Headquaters: Mumbai

19. FIEO – Federation of Indian Export Organisation

  • Sector: Export
  • Head: Dr. Ajay Sahai
  • Headquaters: Mumbai

Federation of Indian Export Organisations is a trade promotion organisation in India, jointly established in 1965 by the Ministry of Commerce of the Government of India and private trade and industry. The organisation is responsible for representing and assisting Indian entrepreneurs and exporters in foreign markets

20. INSA – Indian National Shipowners’ Association

  • Sector: Shipping
  • Head: President – Sumati Morarjee
  • Headquarters: Mumbai

21. ICC – India Chemical Council

  • Sector: Manufacturing
  • Head: Mr. Ravi Kapoor
  • Headquarters: Mumbai

22. ISSDA – Indian Stainless Steal Development Association.

  • Sector: Growth and Development
  • Head: K.K Pahuja
  • Headquarters: Haryana

23. MAIT – Manufacturers’ Association for Information Technology

  • Sector: IT
  • Head:  V.J Ramamurthy
  • Headquarters: New Delhi

24. NASSCOM – National Association of Software and Service Companies.

  • Sector: IT
  • Head: Raman Roy
  • Headquarters: Mumbai

25. OPPI –  Organisation Of Plastic Processors of India.

  • Sector: Manufacturing
  • Head: President -Achal Thakkar
  • Vice President – Dharmendra Gandhi
  • Headquarters: Mumbai

26. PEPC – Project Exports Promotion Council of India.

  • Sector: Trade
  • Head: Chairman –  Sandip Baran Das
  • Vice Chairman – Rajeev Mahna
  • Headquarters: New Delhi

27. TEMA – Telecom Equipment Manufacturer Association of India.

  • Sector: – Telecom
  • Head: President – Shri Rahul Sharma
  • Headquarters –  New Delhi
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