The ghost of Harshad Mehta: Is RBI's distrust of brokers hindering retail participation in G-Secs?

The legacy of Harshad Mehta's market manipulation has left RBI cautious, limiting brokers' direct access to its G-Sec trading platform. RBI's restrictive control doesn't encourage retail investment, while Sebi's proposal to open up access for brokers aims to boost retail participation but remains unheeded by RBI.