Thursday, February 28, 2013

The anatomy of regulatory independence

Since, barring the Reserve Bank of India (RBI), financial sector regulators in India came in later than those in developed markets, the debate on independence here started somewhere in the mid-2000s, with the intelligentsia generally supporting it. However, the global tide turned sharply in the aftermath of the 2008-09 crisis, after which the very same autonomy was vilified..........

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