SEBI to regulate the Financial Market A dangerous move.

This is a dangerous move and the entire financial system would be in a mess and collapse early..In fact, to ensure monetary stability which essentially calls for a strong and sound capital market, money market, forex market, insurance and credit market, the SEBI and IRDA should be brought under RBI and the RBI Act needs to be amended from this angle. The loss of powers by the politicians and the bureaucrats seems to be working to think in such terms and there is a calculated move to clip the wings of RBI. It is definitely a cynical and short sighted view inviting trouble and disturbance in the financial system exposing the economy to all sorts of risks upsetting the objective of making India strong in all respects.Thanks to RBI only, the economy has been getting recognition all over the world and this needs to be recognised first by the Government and the bureaucrats.In fact the banking system is in a mess these days because of the interference of the Government and the setting up of FSDC and a committee (FSLRC) to  come out with  recommendations  with a preconceived idea of taking away RBI 's powers. The cracks are already visible in the financial system and if the present  government also  goes in the same direction, ache din will never be there and the economy cannot be expected to be on the right  track. Derailment is waiting to happen any time.  

Dr.T.V.Gopalakrishnan