Kirnahar (WB), October 15: Asserting that financial sector regulators like RBI and SEBI would continue to enjoy powers, Finance Minister Pranab Mukherjee has said that the proposed high-level financial council FSDC will deal only with inter-regulatory issues and not act like a super-regulator.
“Let me say clearly that FSDC (Financial Stability and Development Council) will not assume the role of super regulator. The existing regulators will enjoy the powers as vested by (respective) Acts,” Mukherjee told PTI in an interview here.
Noting that an air has been created that FSDC would take the role of a super regulator, he said, “This is not so.
–Agencies