......Our
financial regulators desire independence and institutional support.
Today, work is allocated between the RBI, Sebi, IRDA, PFRDA, FMC, SAT,
DICGC and FSDC, leaving significant gaps, agency overlap and the
potential for regulatory capture. As proposed by the Financial Sector
Legislative Reforms Commission, the RBI should focus on formulating
monetary policy, along with enforcing consumer protection in the deposit
banking and payment systems. .............
Read - ET
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