Are private sector executives better than bureaucrats for regulators' job?

Former RBI Governor Bimal Jalan said it is better if the person's expertise is considered than whether he/she is a bureaucrat or a private sector executive

There are instances of those coming from the private sector becoming the regulator in India, though only a few ones and only recently.

For instance, the current chairperson of the Securities and Exchange Board of India (Sebi), Madhabi Puri Buch, is from the private sector. However, she was a whole-time member of Sebi for around five years before becoming the chairperson in March, 2022.

It took years for the securities market regulator to appoint a person from the private sector as chairperson since the Sebi Act was enacted in 1992 or a few years prior to that when the Sebi