Banking Regulations and Financial Development in Trident and India - Law Assignment Help

Assignment Task

Question 1 (1200 words)

A country named Trident has recently gained independence from its colonizers. Trident is in the process of revisiting and revising the legal and regulatory framework of its banking sector. Thus, they have formed the Drafting Committee on Trident’s Banking Regulations (DCTBR). Given your understanding and knowledge of the law, finance and economics, you have been appointed as an expert member of DCTBR to discuss matters on the banking system of your country.

The socio-economic-political state of Trident is an astounding mysterious replica of the Republic of India. In many parts of the Trident, many indigenous communities have lived for centuries, before the colonisers stepped foot on its shores. These communities have their indigenous banking systems that have survived to date. They have been regulated either under the laws of the respective communities or have been entirely unregulated.

The DCTBR has sat down for its first meeting today and the following points/ issues have been listed for deliberation:

a) Whether there should be an enactment of a special statute relating to the banking companies in Trident?

b) Whether Trident should adopt a licensing regime for the banking sector? If yes, what should be the nature of the same?

c) Whether Trident should regulate the indigenous banking systems? If yes, what should be the nature of the same?

You are to provide your input on the aforesaid issues under consideration. Give reasons for the same. You must support your opinion with readings/research, theoretical inputs, case studies/ examples, case law and your own research. Please feel free to refer to the laws of ‘India’, or any other country to help you in making your recommendations on the above issues.

Question 2 (850 words)

“Economics starts from market efficiency (and distribution) as the defining considerations. Regulation steps in as a means to correct relevant market failures... The design of financial regulation is not just about identification of market failures and appropriate remedies, but also their translation into law (an imperfect instrument to guide human behaviour) via the no-less imperfect) political process”.

In light of the aforesaid statement, discuss the legal and regulatory developments that have happened vis-à-vis the Global Financial Crisis of 2007-2008. Do you think financial regulation is flawless and seamless in addressing market failures? You must support your opinion with readings/research, theoretical inputs, case studies/ examples, case law and your own research.

Question 3 (800 words)

a) Discuss and analyse the policy objective and statutory basis for establishing Non-banking Financial Companies into the Indian financial system.

b) Discuss and analyse the significance of the creation of the classification of ‘scheduled banks’ under II Schedule of the RBI Act, 1934 from a theoretical lens.

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