India's volatility index, the VIX, has seen a significant surge, hitting a 15-month high with a 7.7% increase to 18.32. This marks the third consecutive session of notable increases, with the index rising nearly 70% over nine sessions and up 72% in total. The sharp rise in the VIX, often referred to as the stock market's fear gauge, coincides with recent election jitters and concerns over new regulatory measures for infrastructure loans by the RBI. Additionally, stock investors have experienced substantial losses, with a reported Rs 11 lakh crore loss over three days attributed to low voter turnout and heightened market volatility.