Decriminalization Efforts in RBI-administered Acts: Expert Opinion by Sunayana Basu Mallik
In a recent article published by Moneycontrol Sunayana Basu Mallik provided valuable insights into the potential decriminalization of provisions within Acts administered by the Reserve Bank of India (RBI). This initiative aims to alleviate the current deterrent effect on auditors and key personnel within sectors under RBI scrutiny.
Under the RBI Act 1934, auditors and other professionals face imprisonment, posing challenges for their participation in finance, banking, and fintech domains. Sunayana emphasized the need for revising these provisions to foster an environment where domain experts and talented professionals can contribute more freely.
“The proposed changes could significantly impact how professionals engage with sectors critical to our economy,” Mallik stated. She underscored the importance of exploring alternative mechanisms that replace imprisonment with more constructive approaches.
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