RBI deputy governor emphasises role of state regulators in forex markets
Reserve Bank of India (RBI) deputy governor H R Khan, in a speech released on April 16, said self regulation cannot fully replace government supervision in the foreign exchange market.
Addressing the annual conference of the Foreign Exchange Dealers Association of India, held in Zurich, Khan said co-operation between statutory regulators and industry bodies was a "necessity", but that self regulation alone cannot fully replace state regulation.
In regulatory and supervisory terms, he described
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