There should be only one regulator for an entity: Crisil

The chief executive of Indias leading rating agency Crisil has called for a single regulator for an entity instead of several agencies. There should be a single regulator for all already-regulated entities in the country, said Roopa Kudva,MD & and CEO of Crisil here today.

She said the mechanism of several regulators needed to be regulated in a proper channel or platform in the country. Whats more important is that there should be one regulator for the regulated entities if not a super regulator, Kudva said,when asked about bringing a super regulator or whether one entity can be regulated by two regulators.

The Indian economy has been witnessing an increasing influx of foreign money of late and there was a possibility of capital controls being imposed,she said. India may have to control the amount of foreign money flowing into its economy if the surplus cash threatens to destabilise the financial sector. In the corporate bond market,foreign investments have reached $10 billion,which is an all-time high, Kudva said at an S&P-Crisil seminar on financial markets.