Union Finance Minister Nirmala Sitharaman lauded the Indian financial sector regulators for their “world-class job” in enhancing transparency within the financial system. Speaking at the Financial Express Best Banks Awards, she emphasized the importance of recognizing the positive contributions of regulators while remaining open to critique.
Sitharaman noted that while questioning regulators is necessary, it’s equally vital to acknowledge the significant advancements they have made. Her comments come amid ongoing scrutiny regarding allegations of impropriety against the chairperson of the Securities and Exchange Board of India (Sebi), Madhabi Puri Buch.
The finance minister urged attendees to consider the broader context and emerging facts surrounding the situation. Sitharaman’s remarks underline the balance between accountability and appreciation for the efforts of financial regulators in maintaining integrity and transparency in the sector.
As India continues to evolve its financial framework, the role of regulators remains critical in ensuring a stable and transparent environment for both investors and institutions.
