Which of the following is not correct regarding FSLRC?

Options

A. It reviews, simplifies and rewrites the legislations affecting the financial markets in India.
B. It evolves a common set of principles for governance of financial sector regulatory institutions
C. It streamlines the regulatory architecture of financial markets
D. it was formed in 2013

Answer

D

Explanation

The Financial Sector Legislative Reforms Commission (FSLRC) is a body set up by the Government of India, ministry of Finance, on 24 March 2011. The remit of FSLRC comprises the following : (i) Review, simplify and rewrite the legislations affecting the financial markets in India, (ii) Evolve a common set of principles for governance of financial sector regulatory institutions, (iii) Remove inconsistencies and uncertainties in legislations/Rules and Regulations, (iv) Make legislations dynamic to automatically bring them in tune with the changing financial landscape, and (v) Streamline the regulatory architecture of financial markets.