Ajay Tyagi

Don't relax MPS requirements: Easing rules won't aid corporate governance

The Indian capital market's growth has been truly impressive in recent times. Since 2019, the market cap-to-GDP ratio has increased from 81% to 135%

Inflation must be RBI's priority with strict vigil, oversight assured

The RBI performs multifarious functions, some of which are, in fact, conflicting. It isn't easy to spell out the KPIs (key performance indicators) to judge its performance objectively

Govt must implement its 2021 divestment goals with rigour and deadlines

The practice of fixing annual divestment targets in the budgets was designed to tap an additional revenue source to contain the revenue deficit

India's distant promises: Clarity needed for Viksit Bharat, Net Zero goals

The government needs to clearly list out all the desired parameters to be covered under the Viksit Bharat goal, assign appropriate weight to each of them, and set numerical targets wherever applicable

India needs to build a credible carbon market, minus an offset mechanism

Not including all hard-to-abate sectors in carbon emission intensity targets will reduce market size and impact liquidity. Offset mechanism isn't a solution

The limits of disclosure regime: Penalising industry, confusing investors

Like any other organisation facing public outcry, perception management becomes the regulator's foremost priority

Strengthening regulatory bodies: Key reforms for efficiency, accountability

This column is not focused on analysing the performance of regulators, but rather on examining certain broad core issues that need to be addressed

Overbearing secondary market: Time for business channels to refocus

For the public good, business channels must broaden their focus and look beyond stock market trading

India needs urgent, actionable plan to meet climate goals as time runs out

Climate change poses a major vulnerability that demands a comprehensive, quantifiable medium- and long-term plan, along with close monitoring to ensure timely corrective actions

Maintaining regulatory balance

Besides depositors, investors in bank securities are important stakeholders, and their interests ought to be safeguarded

Tweaking the inflation targeting mandate

A key focus for the new govt should be to ensure wider consultation in setting inflation target

Retail rush: Keeping faith in markets

The surge in retail participation, combined with increasing market complexity, poses new challenges for the Sebi

Mutual funds' growing heft

Maintaining the confidence shown by investors is crucial, as a single bad episode could spoil the party

NBFCs' contagion concerns

Reserve Bank of India's decision to increase risk weights on unsecured consumer loans and bank funding has dealt a double blow to non-banking financial companies

Trading for a greener tomorrow

The way forward to meet the nationally determined contributions is a well-regulated domestic emission trading mechanism

BRSR filings: Not mere disclosures

It should be used to improve ESG parameters, analyse vulnerability, and build appropriate tools for supervision and regulation

Connecting CSR and social stock exchange

Allowing social stock exchanges to facilitate CSR funding of projects could catalyse change by improving outcomes

Free float: The market's missing factor

The regulatory definition of public float needs to align with the market practice of free float

Putting all eggs in one basket

The dominance of banks in the mutual fund space raises questions about financial stability that require careful examination

Balancing regulatory approaches

The use of both principle- and rule-based approaches in regulatory frameworks has its challenges, but the latter may be problematic for tech-driven activities