Towards the fag end of the UPA government’s term, finance minister P Chidambaram left a critical decision to be taken on the approach to institutional and legislative changes in the financial sector to his successor.India’s new FM and government will have to decide whether or not they want to rock the boat and change the institutional structure which will see a whittling of regulators and a redressal mechanism for consumers and financial investors besides a resolution agency like in the West for distressed firms.
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