CHIEF ECONOMIC ADVISER V Anantha Nageswaran on Wednesday said regulators have to choose the trade-off very carefully so as not to stifle innovation with unelected regulatory power.
He said the regulators in general should not be standing in the way of innovations, and cited the examples of crypto currencies, which have come under the regulatory gaze of the Reserve Bank of India.
Talking about 'Future of Regulation: Balancing Innovation and Risk' at a CII event here, Nageswaran said there is a need for striking the right balance between optimising growth and regulatory framework in light of global uncertainties.
"We have focused more on making sure that not a single act of deviant behaviour goes unpunished, and that is something that we need to reflect on.
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