Regulators: Holier than thou

Why do governance rules not apply to those who frame and administer the laws?

Over the past two decades of financial liberalisation, India’s investor population has shrunk to a third (from 20 million in 1992 to 8 million, according to official reports) as investors turned away from equities and mutual funds and plonked their savings in safe, bank fixed deposits, real estate and gold.

But it is...

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