Saturday, June 18, 2011

IDR- An idea too soon for India

Standard Chartered Bank had issued the first 'Indian Depository Receipts'. Given the capital controls, it is clearly too soon. Typically, arbitrageurs got in and tried to bully the regulator. A debate on both sides was published by Business Standard, a bus newspaper. For once, I was happy to take the side of the regulator.
Here it is

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