........"Right now, it’s possible to design your company in such a manner and carry on your business in a way that you do not classify as an NBFC, a chit fund, or any other regulated entity," Chidambaram said in an interview. "These are regulatory gaps and what we are trying to do is to reduce these gaps to maximum possible extent, so that everyone falls either under the RBI, or SEBI, or the Registrar of Chits or under the state government, etc," he said............
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