12 months ago

New Regulators Ease Regulations in Indian Financial Markets

New Regulators Ease Regulations in Indian Financial Markets
Tale of two regulators: Why the market loves new RBI, Sebi chiefs · livemint.com

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.'

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”
livemint.com
“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”
livemint.com

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.”
livemint.com

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”
livemint.com

Sources

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