No need to intervene in functioning of regulators: FM
Finance Minister Pranab Mukherjee today ruled out government intervention in the functioning of financial regulators saying they were doing a "good job".
March 04, 2011 / 23:42 IST
Finance Minister Pranab Mukherjee today ruled out government intervention in the functioning of financial regulators saying they were doing a "good job".
"I do not think there is a need for intervention by the government in the functioning of financial regulators," he said during Question Hour in the Lok Sabha.Regulators needed to be given autonomy so that they can discharge their functions as per the law, he said in an answer to a question on whether government was planning to intervene in the functioning of financial regulators given the rash of scams.Mukherjee said the laws governing the financial regulators have provisions enabling government to issue directions on policy matters. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!