ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846
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Wanted: A Turf War for Development of Financial Markets

The effectiveness of a regulatory architecture in the financial sector can be gauged by three parameters - (1) the framework and mechanisms in place for clearly defined regulatory jurisdictions of financial markets and institutions; (2) the clarity regarding the developmental role with regard to the promotion and nurturing of the financial institutions and markets in their respective areas of jurisdiction; and (3) the responsibility and accountability for financial stability. Testing the present arrangements in India against these three parameters shows some weaknesses and the need for improvement.

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