In an alphabet soup

This appears to be the larger intellectual backdrop against which India's financial regulatory regime will be developed and altered. The minor and major issues of coordination between existing financial services regulators are indeed important. However, what is most critical is whether the finance ministry and the RBI are on the same page in regard to the pace of reform on the capital account. This subsumes everything else.

The writer is Managing Editor, 'The Financial Express'

mk.venu@expressindia.com

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