 "corporate, governance, corporate governance")
One of the announcements in the latest Budget was on regulatory reforms outside of finance. Though the finance minister (FM) did not elaborate on the logic of excluding financial regulation from this exercise, the obvious inference is that our policymakers think non-financial regulation is more in need of reform than financial regulation.
Financial sector regulations, and the functioning of financial regulators, undoubtedly need considerable reform. However, compared to regulation in other sectors in India — and the conditions that prevailed before them — the statutory regulatory authorities (SRAs) in finance remain among the best visible in the country.
These regulators
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