RESERVE BANK’S AND OTHER REGULATIONS
The Reserve Bank of India (RBI) also constituted its own advisory group on corporate governance under the aegis of the standing committee on International Financial Standards and Codes to review and recommend norms of corporate governance from the perspective of the banking sector. Based on the suggestions received from these committees, the Department of Company Affairs amended the Companies Act in December 2000 to include corporate governance provisions, which would be applicable to all companies. These new provisions came into effect from 1 April 2001.
The regulatory move is extended to non-listed companies also. The Companies Act is applicable to all Indian companies—both listed and unlisted. It incorporates ...
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