FAILURE OF MANY URBAN CO-OPERATIVE BANKS HAS BEEN A MATTER OF WORRY.
FINANCIAL SECTOR REFORMS MUST AIM AT FIXING THE RESPONSIBILITY ON THE REGULATOR. FIRM STEPS ARE REQUIRED TO PROTECT THE INTERESTS OF THE DEPOSITOR COMMUNITY - ELSE THE ENTIRE BANKING SYSTME MAY FACE PROBLEM. APATHY ON THE PART OF THE GOVERNMENT MAY LEAD TO FINANCIAL ANARCHY.
INVESTMENT IN MUTUAL FUNDS AND SHARES BY THE SMALL INVESTORS IS ALSO CONSIDERABLE. SEBI MUST BE MADE RESPOBSIBLE FOR DEALING IN A FIRM MANNER WITH THOSE WHO DO NOT GUARD THE INTERESTS OF THE INVESTORS.
FINANCIAL DISCIPLINE IS A MUST. ANY FRAUD IN THE FINANCIAL SECTOR MUST BE TREATED AS A CRIMINAL OFFENCE AND MUST BE MADE A NON-BAILABLE OFFENCE.