The appointment of Injeti Srinivas as the chairman of the International Financial Services Centres Authority (IFSCA) this July, just months before market regulator Securities and Exchange Board of India (Sebi) gets a new chairman sets the stage for the most interesting tussle. It will be the one to determine who is the real boss of the financial markets in India, for the foreseeable future.
For financial sector companies setting up shop in India, as of now the go-to regulators are obviously the Sebi and the Reserve Bank of India (RBI)with carve-outs for IRDAI or possibly PFRDA. But this could change soon.
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