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Banking and telecom sectors unhappy with note extending CCI purview

By  |  June 10, 2012

A corporate affairs ministry note prepared for a group of ministers (GoM) set up by the Cabinet argues for allowing the Competition Commission of India (CCI) to regulate competition matters across all sectors of the economy. The Competition Act would be amended to require mandatory coordination between industry regulators and CCI.

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    The Department of Financial Services and the Department of Telecommunications seek exemptions for the banking and telecom sectors, arguing that the regulators for those industries have the expertise to handle related competition matters. Additionally, the departments point to the Banking Laws (Amendment) Bill, 2011 and the TRAI Act, 1997 as legislative support for exemptions.

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    Full content: Business Standard

     

    Related content: India’s New Antitrust Regime (Aditya Bhattacharjea, University of Delhi)

     

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