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India warns G20 against complacency on financial regulations

NEW DELHI: The Group of 20 must not be complacent in its efforts to set up a strong financial regulatory framework and effective supervision, Prime Minister Manmohan Singh said in a statement on Wednesday. "In the financial sector, we should build upon the process of IMF reform on which good progress was made last month at the G20 Finance Ministers meeting," Singh said in a statement before leaving for the G20 summit at Seoul. "We have to be particularly wary of protectionist sentiments," he added.