......... In my view, this is the first time the head of any of the three regulators – Irda, the Securities and Exchange Board of India (Sebi) and the Reserve Bank of India (RBI) – has publicly declared that the regulator’s role is primarily consumer protection. All these years, the three main regulators and also the fourth new one – the Pension Fund Regulatory and Development Authority – have acted as if consumer protection is a minor issue............
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