We had always maintained that prevention and protection are the duties of authorities. Not many people agree with me, but I believe it is the duty of SEBI, the RBI, the finance ministry and other institutions to protect the investors and maintain vigilance. They have to monitor things constantly. Let me illustrate what I mean by an example. Take mutual funds.
Every advisor says, 'Invest in mutual funds.
Suppose a certain mutual fund doesn't function well. Then, it's the duty of SEBI to find out if there is manipulation or genuine risk in the mutual fund s portfolios. If there's genuine risk element, then there is no room for any complaint. Of late, yes. It has started to adopt a proactive approach.