The product diversification of financial institutions and insurance companies, resulting in overlapping of products and services strengthens the case for the merger of the two regulatory agencies namely SEBI and IRDA. Justify.

Theme

T100 Regulatory & quasi-judicial bodies: CCI, SEBI–IRDA, tariff authorities

What UPSC asks in this theme

UPSC asks CCI's role against MNC abuse of dominance, merging SEBI and IRDA, a rail tariff authority, why regulators must stay independent, and quasi-judicial bodies.

What to cover

• Regulatory independence: appointment, tenure, funding
• CCI cases (Google, etc.)
• Financial regulator convergence (FSLRC)
• Quasi-judicial bodies: features, examples

Writing the answer

• Use recent cases

These notes are for the whole theme, built from all 5 of its PYQs. UPSC does not publish model answers.