Reading today's news that the Finance Minister has called for simpler KYC norms to attract small investors. Launching the Rajiv Gandhi Equity Savings Scheme (RGESS) at Mumbai, Mr. Chidambaram said, “There are too many regulations. KYC under single regulator must converge in the first phase and, thereafter, there should be convergence of KYC under different regulators in the market.”
Which led me off to think, question whether the simpler KYC norms is what Nitin Gadkari seems to have followed while attracting investors for his Purti Group of Companies.
Which again encouraged me to quickly mash up a Cartoon.
(image first posted at viewsunderthenews)
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