 "ESMA")
The differences between the Reserve Bank of India (RBI) and the European Securities and Markets Authority (ESMA), the EU financial regulator, can be considered a precursor of similar controversies in other sectors as Europe tries to tighten standards across all types of markets, from carbon credit, green hydrogen to data. But unlike those on, say, food products or car safety earlier, where European insistence has led to an improvement in Indian standards, the latest one is headed for a stalemate. Newer ones could be headed the same way.
ESMA has this week said Indian clearing corporations will not be recognised
