7/7/2013

Noting that current regulatory gaps in India allow companies to set up illicit investment schemes that can elude oversight, Finance Minister P. Chidambaram said the government is working to remedy the situation. "What we are trying to do is to reduce these gaps to maximum possible extent so that everyone falls either under the RBI or Sebi or the registrar of chits or under the state government, etc.," Chidambaram said.

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