The Financial Stability Board (FSB) in its latest update on compliance has named these jurisdictions as demonstrating sufficiently strong adherence to international standards.
Besides India, China, the US, the UK, Switzerland, Australia, Germany, Brazil, British Virgin Islands, Canada, Luxembourg, Liechtenstein and Cayman Islands are included in the FSB list.
Jurisdictions that have not yet demonstrated "sufficiently strong adherence" are: Bahamas, Argentina, Barbados, Chile, Greece, Colombia, Indonesia, Mauritius, Hungary, Israel, Russia, Malaysia and Turkey.
Citing assessment done by the World Bank and the IMF, the global body said India and 45 other jurisdictions are strongly adhering to international standards of information exchange and co-operation with regard to banking supervision, insurance supervision and securities regulation.
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"Co-operation and information exchange amongst financial supervisors and regulators are essential for effective oversight in an integrated financial system.
The global grouping's initial focus is on the adherence of FSB members and other jurisdictions that rank highly in financial importance. This includes 24 members and non-FSB jurisdictions that rank highly based on a combination of economic and financial indicators.