Regulators can work together to minimise overlaps: RBI Deputy Governor

RBI Deputy Governor Swaminathan J said regulators should coordinate to reduce overlaps and close gaps without hindering innovation, calling for proportional and outcome-based regulation

Regulators can work together to minimise regulatory overlaps and close material gaps without affecting innovation, Reserve Bank of India (RBI) Deputy Governor Swaminathan J said on Friday while speaking at the Gatekeepers of Governance – Corporate Governance Summit.

 

“The real problem may, therefore, arise from conflicting rules, duplicated compliance, and uncoordinated enforcement, which is avoidable. At the same time, new activities, new technologies, and new business models can fall through internal cracks. So, we do agree, both regulatory overlaps and gaps exist,” Swaminathan said.

 

“The task for regulators is to work together, minimising harmful overlaps and closing material gaps, without