The swift development of financial markets is creating gray areas and leaving regulators behind, creating a need for immediate action, India's finance minister, P. Chidambaram, said at a seminar. "The existence of such unregulated players, who operate in the twilight zone, endangers the discipline of the markets, leading to systemic instability. Invariably, such activities adversely impact a large number of consumers. ... We believe that we must move quickly to remove all unregulated space," Chidambaram said.

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The Hindu (India)

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