-Live Mint Former Irda chief spells out the problems with regulating the insurance sector in an interview Regulators are sometimes not too keen on laying down the law because they may be too close to the industry that they are charged with making sure is complying with rules, said J. Hari Narayan, who stepped down on Wednesday as chairman of the Insurance Regulatory and Development Authority (Irda).   “There is a lot going on...

-Live Mint The International Monetary fund (IMF) has warned India against licensing corporate entities to step into the business of commercial banking, saying the risks associated with such a move potentially outweigh the benefits of creating more banks. IMF’s Financial System Stability Assessment Update said it would be prudent for India to first put in place and gain sufficient experience in implementing a comprehensive framework for the purpose before considering the entry...

-DNA Among the many government departments trying to subvert the sunshine Right to Information law by denying information on frivolous grounds, market watchdog Securities Exchange Board of India (Sebi) appears to be at the forefront of citing bizarre reasons for denial. Replying to an application filed by DNA in January 2010, Sebi said it could not furnish copies of board meetings’ minutes because photocopying them would damage the original records. “If there...

-Outlook Concerned over the health hazards likely to be caused by cell phone towers, the National Green Tribunal has restrained several telecom firms from setting them up without following mandatory provisions of law and taking permission from the competent authority. "Considering gravity of allegations levelled and health hazard likely to be caused, we direct that no construction of cell phone communication towers shall be made without following mandatory provisions of law and necessary...

-Live Mint Information commission asks Sebi to disclose details of consent order proceedings, identities of entities involved  Mumbai/New Delhi: The Central Information Commission (CIC) has directed India’s stock market regulator to disclose all details related to the insider trading case involving Reliance Petroleum Ltd (RPL) in 2007, in a move that could have a bearing on not just the functioning of the Securities and Exchange Board of India (Sebi), but also the...