India has said when there is a need to regulate the financial market, the same should not be used to devise any kind of protectionism.

"We shall have to strike a balance. First of all, I would like to... in the name of the financial regulation and to regulate the markets and as I started off, I mentioned protectionism need not come. Yes, there is a need of regulating the financial market," Finance Minister Pranab Mukherjee said in an interview to CNN international.