Economic TimesLean R·
India beats a hasty retreat from a crucial market reform
India’s market-closing auction reform, designed by Sebi to curb price manipulation, has faced volatility and investor backlash within weeks. The regulator may weaken or abandon it, exposing deeper problems: high securities taxes, inadequate arbitrage, shallow liquidity and restrictions on short selling. Poor coordination between fiscal and regulatory policies ultimately undermined reform efforts.
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