By M. Damodaran
Chairperson, Excellence Enablers
Former Chairman, SEBI, UTI, IDBI
There was a time when Regulators steadfastly refused to communicate. In the process, the regulatory philosophy that informed the working of their organisations remained largely unknown to the regulated universe. Lip reading was the best that one could do in the circumstances.
Indescribably good progress has been made, especially in the last few years. Financial sector Regulators are communicating more frequently, and more clearly, enabling those that are interested, to understand the context in which regulations are being written, and the objectives sought to be achieved. There is much more that needs to be done, but the ground covered so far promises hope.
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