Which of the following organisations is not a financial institution or financial regulatory agency of the type that operates in the money, insurance, or capital markets?

Introduction / Context:
In exams on banking awareness and general knowledge, candidates are often asked to distinguish between genuine financial regulators or institutions and bodies that work in completely different fields. This question checks whether you can identify which organisation in the list does not belong to the financial sector at all and instead works in a totally unrelated area.

Given Data / Assumptions:

- IRDA regulates the insurance sector in India.

- SEBI regulates the securities and capital market in India.

- FPSB is related to professional standards in financial planning.

- BCCI is included in the list but must be evaluated based on its core activity and domain.

Concept / Approach:
A financial institution or financial regulatory agency operates directly in the fields of banking, insurance, investment, securities, or related financial services. IRDA and SEBI are statutory regulators, and FPSB deals with financial planning standards. BCCI, however, is an autonomous body responsible for governing and managing cricket in India. Its primary function is sports administration, not financial sector regulation or service provision, so it is the odd one out.

Step-by-Step Solution:
Step 1: Recall that the Insurance Regulatory and Development Authority regulates life and general insurance companies and protects policy holders. Step 2: Remember that the Securities and Exchange Board of India regulates stock exchanges, brokers, mutual funds, and other market intermediaries. Step 3: Recognise that the Financial Planning Standards Board sets global and national standards for financial planning professionals and certifications. Step 4: Identify the Board of Control for Cricket in India as the governing body for cricket, organising tournaments and managing the national team. Step 5: Since BCCI deals with sports administration rather than financial regulation or services, it is the organisation that is not a financial institution or agency.

Verification / Alternative check:
An easy way to verify this is to look up the websites or mission statements of each organisation. IRDA and SEBI clearly define roles in regulation of insurance and capital markets. FPSB speaks about professional certification and standards for financial planners. BCCI, by contrast, describes its role in cricket management, team selection, tournaments, and promotion of the sport. This confirms that BCCI operates in a non financial domain and matches the requirement of the question.

Why Other Options Are Wrong:
IRDA is a core financial regulator responsible for supervising insurance companies and the insurance market, so it is definitely a financial agency. FPSB is not a regulator but is still firmly part of the financial services ecosystem through its work with financial planning professionals. SEBI is the principal regulator for stock and capital markets in India and is very clearly a financial agency. Thus, all three belong to the financial sector and do not satisfy the condition of being non financial bodies.

Common Pitfalls:
Sometimes candidates assume that only regulators count as financial agencies and may get confused by FPSB, which is a standards organisation rather than a statutory regulator. However, the question is broader and asks about financial institutes or agencies in general. The safest approach is to identify the one body whose main activity has nothing to do with finance and everything to do with sports. This logic leads directly to the Board of Control for Cricket in India.

Final Answer:
The organisation that is not a financial institution or financial regulatory agency is the Board of Control for Cricket in India (BCCI).