Role of independent directors being discussed: Sebi's S Raman

Interview with whole time member, Sebi

S Raman, whole-time member, Securities and Exchange Board of India (Sebi), says disclosure of bad loan defaults within 24 hours would be a game changer in tackling the non-performing assets (NPA) mess. In an interview with Shrimi Choudhary, Raman, whose term ends on September 6, shares his views on the National Stock Exchange case, collective investment schemes (CIS) and related challenges. Edited excerpts:

You were instrumental in shaping the CIS norms. How much money has been raised and how much has been recovered so far?
 

We have issued only four-five orders in the previous 10 years when there were no