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Four high-profile regulators who retire in the next 12 months

Four high-profile regulators who retire in the next 12 months

Comptroller and Auditor General Vinod Rai - who quit office on May 22 - is the first of four high-profile regulators who retire in the next 12 months. The highlights of their tenures and the challenges their successors will face:

Comptroller and Auditor General Vinod Rai - who quit offi ce on May 22 - is the fi rst of four high-profi le regulators who retire in the next 12 months. The highlights of their tenures and the challenges their successors will face:

Vinod Rai, Comptroller & Auditor General (CAG) of India
Vinod Rai, Comptroller & Auditor General (CAG) of India
VINOD RAI
Comptroller & Auditor General (CAG) of India

TOOK CHARGE IN December, 2007

RETIRED IN May 2013

HIGHLIGHTS
A number of his audits rocked the nation:

Estimated the loss from the 2G spectrum scam at Rs 1.76 lakh crore

Estimated the total profi t for benefi ciaries in the coal blocks allocation scam at Rs 1.86 lakh crore

Other audits exposed the Commonwealth Games scam, the Noida Authority scam, MGNREGA irregularities

SUCCESSOR'S CHALLENGE

Audit of AgustaWestland helicopter purchase, since the new CAG Shashi Kant Sharma, as defence secretary earlier, was among those who authorised it

Tackling government's increasing hostility to CAG

U.K. Sinha, Chairman, Securities & Exchange Board (SEBI)
U.K. Sinha, Chairman, Securities & Exchange Board (SEBI)
U.K. SINHA
Chairman, Securities & Exchange Board (SEBI)

TOOK CHARGE IN February 2011

TO RETIRE IN February 2014

HIGHLIGHTS
Penalised an RIL subsidiary Rs 11 crore in an insider trading case

Directed two Sahara Group companies to refund close to Rs 24,000 crore to investors

Launched Safety Net Mechanism to protect retail investors' interests in IPOs

Tightened the takeover code

SUCCESSOR'S CHALLENGES
To carry forward initiatives taken by Sinha, especially those to boost participation of retail investors and SMEs in the capital market

Do something about some of the regional stock exchanges where little trading takes place

D. Subbarao, Governor, Reserve Bank of India (RBI)
D. Subbarao, Governor, Reserve Bank of India (RBI)
D. SUBBARAO

Governor, Reserve Bank of India (RBI

TOOK CHARGE IN September 2008

TO RETIRE IN September 2013

HIGHLIGHTS
Took charge just as the global economic crisis struck. Brought down interest rates to stimulate growth

As inflation mounted, raised rates and thereafter stuck to them, despite the fi nance ministry's displeasure

As inflation fell, began easing rates again

SUCCESSOR'S CHALLENGES

Arresting the renewed fall of the rupee against the US dollar

New banking licences are on the anvil. Rolling them out will pose multiple challenges

Ensuring inflation remains at tolerably low levels

Pramod Deo, Chairman, Central Electricity Regulatory Authority (CERC)
Pramod Deo, Chairman, Central Electricity Regulatory Authority (CERC)
PRAMOD DEO
Chairman, Central Electricity Regulatory Authority (CERC)

TOOK CHARGE IN June 2008

TO RETIRE IN June 2013

HIGHLIGHTS
Fined states for drawing more power from the national grid than they were entitled to

Compensated Adani Power and Tata Power for losses incurred on coal imports due to changes in Indonesian laws

Directed state regulators to play a more proactive role in power tariff revisions

SUCCESSOR'S CHALLENGES
Find ways of enforcing the commission's orders more strictly

Oversee 'open access' and pave the way for a free market in power