12 months ago
New Regulators Ease Regulations in Indian Financial Markets
Imagine India's money and market rules are like traffic laws.
The old bosses of these rules, like Shaktikanta Das and Madhabi Puri Buch, made strict rules to keep things safe.
Now, new bosses Sanjay Malhotra (RBI) and Tuhin Kanta Pandey (Sebi) are trying to make the rules easier to follow.
They want to listen to what people in the money world have to say.
They're hoping to help businesses and investors while still making sure everyone plays fair.
It’s like saying, 'Let’s make the roads safer but not too hard to drive on.'
New leadership at RBI and Sebi signals potential shifts in regulatory approaches.
Sanjay Malhotra at RBI aims for balanced regulations, easing some norms.
Tuhin Kanta Pandey at Sebi focuses on 'optimum regulation,' addressing industry concerns.
Both regulators are facing challenges amid global economic uncertainties.
Changes are expected to foster market stability and address investor needs.
- Who
- Sanjay Malhotra (RBI) and Tuhin Kanta Pandey (Sebi)
- What
- Are introducing potentially more balanced regulations
- Where
- Mumbai, India
- When
- Malhotra took over in December 2024; Pandey in March of current year
- Why
- To balance regulatory oversight with operational practicality and ease concerns in the financial sector.
Key facts
- RBI Governor
- Sanjay Malhotra
- Sebi Chairman
- Tuhin Kanta Pandey
- Former RBI Governor
- Shaktikanta Das
- Former Sebi Chair
- Madhabi Puri Buch
- Location
- Mumbai and New Delhi, India
Quotes
Sanjay Malhotra
Governor of the Reserve Bank of India
“Our target is certainly the headline inflation”
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“strive for perfection”
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Shaktikanta Das
Former Reserve Bank of India (RBI) governor
“every player on this road follows the traffic rules for his/her own safety and the safety of others”
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Ketan Dalal
Managing director at Katalyst Advisors Pvt Ltd
“It was refreshing to hear the new Sebi chief talk about making know-your-client (KYC) much less difficult, One is hopeful that this mindset will drive regulatory reform in the capital markets arena, without, of course, compromising the interest of minority shareholders.”
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Madhabi Puri Buch
Former chairperson of India’s markets regulator, the Securities and Exchange Board of India (Sebi)
“At various points, the Lokpal order called the allegations ‘palpably unfounded, devoid of merit, speculative, bordering on frivolity, figment of imagination, without any credible material, flimsy, fragile allegations to sensationalize and politicize, nothing short of vexatious, malicious…”
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An official
Sebi employee
“The employees are happy, things have changed for the better (with the new chief) and there seems to be more work-life balance, Employees continue to rise to the occasion for important regulatory work but are less burdened by unnecessary stress or unclear communication from the top”
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