Khurshid seeks clarity in roles of CCI, regulators

Economic Times, October 20, 2010

CORPORATE affairs minister Salman Khurshid has called for greater clarity in the role of sectoral regulators in the country on matters of competition laws after some regulators raised doubts over the role of the Competition Commission of India (CCI).

Mr. Khurshid stressed on the need to clearly lay down regulations for all regulators so that they do not stand in the effective functioning of the competition regulator, even as the government looked to sort out differences between the CCI and banking regulator RBI over vetting of bank mergers.

“Given the evolving nature of a modern competition law in India, there is a need to address the issues of overlapping jurisdiction between the Competition Commission of India (CCI) and sectoral regulators,” the minister said at a conference in the national Capital.

His observation comes a day after he said that the committee of secretaries (CoS), that is looking into the merger provisions under the Competition Act will take “on board” the concerns of the RBI, which wants bank mergers to be kept under its exclusive jurisdiction.