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India’s transition to private markets is predicated on how well it regulates private activities across a range of economic sectors, such as finance, telecom, and infrastructure.
Contestation is intense in this election, and the incoming Indian government—irrespective of its composition—will be under pressure to perform.
The Supreme Court’s recent decision striking down the RBI’s February 2018 circular on bad loans highlights something significant about the state machinery—the extent to which it can be a source of risk for private businesses.
Statutory regulatory authorities are bound by the same principles of administrative law as other government agencies, as defined by the judiciary from time to time.
The financial system plays an important role in mobilizing savings, allocating capital in the economy, monitoring corporations, providing liquidity, helping individuals and firms manage risks, facilitating payments, and other economic functions.
The responsiveness of laws and policies to citizens’ preferences and conduct, has been the central theme of extensive literature focusing on political science and administrative law.
Despite urban cities in India being hotspots of wealth and income, they continue to struggle with structural and service delivery challenges due to a lack of financial resources within the system.
As New Delhi focuses on expanding its foreign policy ambitions, an opportunity exists for it to become an international leader in financial intelligence.
New Delhi should aim to become a leader in financial intelligence. But there are several things the central government needs to do before it can solidify that leadership.
There is now an opportunity for India to take the lead on a global platform to combat money laundering and tax evasion–and for Modi to take his campaign promise forward.
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