"Regulatory architecture is evolving and many issues are getting settled by way of some kind of understanding amongst and between the regulators where we need to interact with each other. Otherwise courts will handle these things.
"My own sense is that I don't see these kind of problems of overload on the regulatory architecture going beyond next five to seven years," he said at an event here.
In recent past, there have been instances of perceived regulatory overlaps.
Referring to regulators, Chawla also said there is always the difficulty of them tending to "tending to behave as if they are larger than life".
Also Read
Environment Secretary Ashok Lavasa said that adhering to rules depends more on the way businesses are done rather than just enforcing the regulations.
He said that on the environmental side, there are many regulations that have been made which affect day to day living, day to day business but "do we have the wherewithal to enforce these regulations".
They were speaking at an event organised by the Public Affairs Forum of India (PAFI).