FINANCIAL MARKET regulators Securities and Exchange Board of India (SEBI) and the Reserve Bank of India (RBI) are worried that the surging volumes in futures and options have started impinging on capital formation and thus pose a systemic risk to India’s economic growth. “Two years ago, when retail investors flooded the F&O segment, we worried about losses to them, and restricted our action to educating them, warning them. Indeed, nine out of 10 investors were losing money as we subsequently found out. From a micro concern of retail investor losses,…