Explaining the divergence, she said SEBI operates through a quasi-judicial process based on existing regulations, whereas SAT follows a strictly judicial approach. (File Photo) India’s regulatory framework is increasingly weighed down by excessive detail, while falling short on effective enforcement, former SBI Chairperson Arundhati Bhattacharya said on Thursday. Speaking on the tendency to bypass rules at a function here, Bhattacharya said that individuals and businesses often look for shortcuts, prompting regulators to respond with tighter controls. “Regulators try to ensure there are no shortcuts, but in doing so, regulations become highly micro in nature,” she said, adding that such an approach ends up entangling both policymakers and businesses in complex compliance requirements.…