FM wants regulators above the curve

New Delhi: Emphasising the need for fair and transparent business practices, Union minister Nirmala Sitharaman on Tuesday said regulators have to be well advanced and ahead of the curve in understanding digitisation to ensure that there is no misuse of technologies. Sitharaman, who is helming the ministries of finance and corporate affairs, said the decade from 2020 and upwards will be infused with digital methods and also stressed that there should be firewall mechanisms in the context of digitisation.

Speaking at an event to flag off Iconic Day celebrations of the Corporate Affairs Ministry as part of the Azadi ka Amrit Mahotsav (AKAM), she noted that digitisation will have an impact on markets and then obviously, Competition Commission of India (CCI), National Financial Reporting Authority (NFRA) and others have to be ahead of the curve to see where the regulations are falling in place, where the regulations need a soft touch, where the regulations will have to be deterrent strong.