Too much regulation
“Right now, we aren’t really considering any of those things.”
"Number one, we have to also see, will it be a regulatory overreach? Will you be able to effectively do it?
“I mean, we do have for specific players, those who are registered with the system, we do have this. Like for example, NISM certification is there for several. Like you are a registered advisor or an IA or RA.” But applying this to millions of retail traders would be a different challenge altogether.
"… Tomorrow, someone will say, if you want to do it for a mutual fund, then you will have to do an aptitude test. So, who will take it? How will it be taken? How will it be passed? So, we have to see the pragmatism of it also. I don’t think that, you know, anything of that kind is on our horizon at the moment
Give people choice
“We have to really give the choice of people’s own money to themselves. We also very much discourage the leverage for trading,”
“…every time, you do the F&O training, you will have a papa saying like a statutory warning, cigarette smoking is injurious to health. People do again smoke cigarettes still. So, I think … if it is an addiction and if you are mindful of risk very clearly, then it is a different thing,”
“To some extent, I think we have to really see, we have to also respect individual choice while you give so much of it. Because people do make experiment many a time and then they learn from mistakes and then they become in fact very much better players also,”
“We also very much discourage the leverage for trading. I mean, trying to borrow money and interest in that type of way…in fact in Indian jurisdiction, really leverage buyouts are not allowed. You don’t have leverages for this. Even in the AIF industry, we don’t allow leverage, the high-risk thing. So, there is normally a situation in that you can do as much. But you can’t really control people’s lives and resources.”
“In a democratic country, they have to have their own choice,”
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