CFS213 | Finance Sector Law, Policy & Practice

How does this course relate to the programme curriculum: Does it develop on a prior course in the programme or is it a foundational or standalone course?

The course, as an elective, develops the understanding of a student developed in other business laws. The finance sector is regulated dedicatedly and stringently. Therefore the student would understand the algorithm (or approach) of law when it attempts to regulate a sector dedicatedly. There was another elective viz., “Banking and Insurance Sector Regulation” – if any student who had done a such course, this course provides him deeper insights.

Describe how you have approached the course. What have you included/excluded and why? Choice of materials: primary or secondary readings / case law;

The finance sector deals with money, credit and financial products. It is defined to comprise (i) players, (ii) instruments and (iii) regulation. There can’t be a finance sector without stringent regulation. Therefore the course flows in the following four parts –

Part one – lays the jurisprudential foundation. The student gets a comprehensive understanding of the finance sector. He also develops a skill to differentiate between the finance sector and the commercial sector.

Part two – understanding banking institutions. The evolution of the banking sector in India and its present trajectory will be discussed. How technology is changing the landscape of banking transactions is emphasised. Needless to state, the banking sector regulation and RBI as a regulator will be discussed.

Part three – understanding non-banking institutions in the Indian finance sector. RBI attempts to regulate them along with SEBI (and a few other regulators). Emphasis will be given to understanding how the Indian finance sector is growing and the pivotal role the regulatory framework plays in this regard.

Part four – other key elements like uniforming the regulatory framework at the international level. The emerging shift in the focus of law, establishing a super regulator, digital money, crypto assets etc., will be discussed, and students are initiated into further thinking, depending on their interests.

Describe your pedagogical method: lectures, Socratic discussion, seminar-style discussion, response papers or group work, field work;

A rational mix of lectures (for making a framework presentation briefly) and Socratic discussion method will be adopted. However, being a maiden attempt to teach the course – no group work or fieldwork is contemplated for this cohort.

Describe the layout of the course: module structure and sequence.

The same is covered above. Module layout and sequence of the modules will be elaborated below.