ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

RegulationSubscribe to Regulation

Aggregators, Driver-partners and the State

Based on the interviews of metered taximen and aggregator drivers, news reports, and a review of aggregators’ operations in different countries, the many violations by the aggregator companies are brought forth. By reviewing the ground realities with regard to the companies’ blogs, their promises, and six different policy drafts aimed at regulating Uber and Ola, the need to see beyond and question the discourse of scientific rationality that frames their operations is highlighted.

Indian Car Industry

Global Players and the Indian Car Industry: Trade, Technology and Structural Change by Jatinder Singh, Oxon and New York: Routledge, 2019; pp xvii + 240, ₹ 995.

Determinants of Recovery of Stressed Assets in India

There have been signs of stress in the balance sheets of banks in an environment of increasing uncertainties and a fragile global economy. Weakening loan recovery rates not only forces banks to face the burden of higher provisions and limits their lending capacity, it also diminishes their profitability and solvency. Examining the determinants of recovery of defaulted loans by banks in India, the need for a stronger and effective insolvency regime is felt so as to improve the debtor-creditor relationship and credit environment. The importance of the presence of collateral, the type of collateral used, and a conducive macroeconomic environment towards recovery of bad loans are highlighted. There is a need for strengthening banks' credit appraisal system. Access to alternative resources facilitates loan recovery, highlighting the need for further development of capital market as a source for adequate resources for borrowers.

The State in Business and the Business of Regulation

This article seeks to dispel the notion that the law treats public sector units preferentially only in India by offering examples of preferential treatment for government-owned entities in developed countries. The solution is, therefore, to secure the credible commitment of the state to subject its corporations to the same standards as are applicable to non-state owned entities.

Reforming the Risky Financial System

Other People's Money: The Real Business of Finance by John Kay; New York: Public Affairs, 2015; pp 352, $27.99 (hardcover).

A Half-baked Attempt at Revamping Environmental Law

The Environment Laws (Amendment) Bill, 2015 is a major policy attempt to make structural changes in environmental governance. But the bill fails in bringing any change to the institutional mechanism for enforcement of the law. Moreover, the bill attempts to introduce a monetary penalty for environmental damages, which is not in consonance with the well-established polluter pays principle.

Market Scandals and Regulatory Governance

What has happened in Wall Street over the past 18 months raises several issues of regulatory governance which are immensely relevant for countries such as India that have embarked on reform of their financial and capital markets. There is deep concern that the regulating agencies are not adequately equipped and capable of discharging their primary responsibility of preserving the integrity of the market processes.

National Policy for Street Vendors

Street vendors across several Indian cities have generally been regarded as nuisance value, their presence seen as inimical to urban development. However, the range of goods and services they provide renders them useful to other sections of the urban poor and thus they form an important segment of the informal economy. A draft national policy on street vendors argues that needs of this section are vital for urban planning purposes. Regulation of vendors and hawking zones and granting vendors a voice in civic administration need to become definitive elements of urban development policy.

Telecommunications Liberalisation

The government's reluctance in the first round of reforms to break the dominance of department of telecommunications and to overhaul the legal and regulatory regime led to endless litigation, which delayed the liberalisation process for almost a decade. The explosive growth of the Internet and wireless technologies and the threat by investors to decamp and withdraw their investment led the government to make efforts to untangle the problems. The 1999 Telecom Policy, the Internet Policy of 1998, and the recent legal and regulatory initiatives to overhaul the legal and regulatory regime are all steps in a positive direction. This article takes India's case as an example to show that a proper legal and regulatory regime at an institutional level at the outset, and a clear commitment to pro-competitive market principles at the political level, are necessary preconditions to successfully reforming the telecom sector.

Financial Sector: Single vs Multiple Regulators

The possibility of friction, even conflict, as a result of the functioning of multiple regulators overseeing different segments of the financial sector does not make a convincing case for a single all-powerful super-regulator on the lines of the arrangement in the UK. A more satisfactory solution to the problem would be to devise an institutional mechanism for conflict resolution.

Independence of Regulators under the Electricity Bill

A critical look at the electricity bill presented to parliament from the standpoint of the independence of the regulatory commissions under the bill's provisions.
Back to Top