Independent Regulatory Commissions----IRC
1. IRC are headless......fine....they are headless becoz there is no single head of IRC type of organisations----- remember the solution to weber's Institutionalisation of Bureau----collegial form of org to check misuse of power....
Similarly IRC also have many heads ...not a single head....though Hierarchy is thr like there is one single RBI chairman .....but decisions are taken on the basis of discussions among all members.....Chairman cant make any decisions on the basis of his own discretion ----
As a Headless branch --- it cant be criticized---- since it protects the misuse of power by single individual ....since IRC has all 3 powers---L+E+J( too much power---chances of misue)-----so IRC form of org infact reduces misuse of power
2. On the same point--- Headless---- manned by collegial of experts--- -- which is very much needed to regulate those sectors which are highly technical and complex--- like banking , insurance, capital markets
3. IRC is 4th branch---- yes.....it is created by Parlia(P)---
IRC ---- all 3 powers----L , E , J ---- they make rules--- enforce their rules --- and punish those who dont follow their rules
similarly ...if P can create any new IRC .....it can also remove IRC by passing bills----- like termination of medical council of india is in process
Moreover.....As a 4th Branch....it cant be criticized----as a 4th Branch ....headed by collegium of experts---- provide it independent functioning----- de-politicisation of functioning---
4. IRC--- riggs view of differentiation and Integration
etc , we can expand benefits of IRC--- fairer market, regulator, conducive investment + business env , benefit for citizen point of view
etc et c
Some examples of IRC in india
1. RBI
2. SEBI
3. IRDA
4. PFRAI
5. Medicial council of India
6. ICAI--- institute of chartered Accountants of India
7. Bar council of India
8. AICTE--- technical education
Basic Concept is Riggs view of Integration and differentiation
We have differentiated various structures---- SEBI, IRDA, etc etc....as u hv said....but for proper functioning in a coherent manner---- Integration is required....Super-regulator wont regulate or interfere in the area of functioning......but only provide the Integration part so that conflicts wont arise and IRC's can work in an independent manner.....Loose integration wud lead to paralysis of functioning ( in case of conflicting areas)...
1. IRC are headless......fine....they are headless becoz there is no single head of IRC type of organisations----- remember the solution to weber's Institutionalisation of Bureau----collegial form of org to check misuse of power....
Similarly IRC also have many heads ...not a single head....though Hierarchy is thr like there is one single RBI chairman .....but decisions are taken on the basis of discussions among all members.....Chairman cant make any decisions on the basis of his own discretion ----
As a Headless branch --- it cant be criticized---- since it protects the misuse of power by single individual ....since IRC has all 3 powers---L+E+J( too much power---chances of misue)-----so IRC form of org infact reduces misuse of power
2. On the same point--- Headless---- manned by collegial of experts--- -- which is very much needed to regulate those sectors which are highly technical and complex--- like banking , insurance, capital markets
3. IRC is 4th branch---- yes.....it is created by Parlia(P)---
IRC ---- all 3 powers----L , E , J ---- they make rules--- enforce their rules --- and punish those who dont follow their rules
similarly ...if P can create any new IRC .....it can also remove IRC by passing bills----- like termination of medical council of india is in process
Moreover.....As a 4th Branch....it cant be criticized----as a 4th Branch ....headed by collegium of experts---- provide it independent functioning----- de-politicisation of functioning---
4. IRC--- riggs view of differentiation and Integration
etc , we can expand benefits of IRC--- fairer market, regulator, conducive investment + business env , benefit for citizen point of view
etc et c
Some examples of IRC in india
1. RBI
2. SEBI
3. IRDA
4. PFRAI
5. Medicial council of India
6. ICAI--- institute of chartered Accountants of India
7. Bar council of India
8. AICTE--- technical education
Basic Concept is Riggs view of Integration and differentiation
We have differentiated various structures---- SEBI, IRDA, etc etc....as u hv said....but for proper functioning in a coherent manner---- Integration is required....Super-regulator wont regulate or interfere in the area of functioning......but only provide the Integration part so that conflicts wont arise and IRC's can work in an independent manner.....Loose integration wud lead to paralysis of functioning ( in case of conflicting areas)...
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