Trivandrum: The Chairman of the Securities Exchange Board of India (SEBI), U K Sinha, has offered to create an Investor Awareness Program in partnership with CII. He said that he was ready to send his team to Kerala to update investors on the existing and new initiatives of SEBI which include independent platforms for SMEs and Foreign portfolio investors.
Sinha, who was speaking at an interactive session organised by Confederation of Indian Industry (CII) in Thiruvananthapuramon, suggested that small and medium scale industries may have to take more advantage from the securities market for mobilizing capital for their expansion. Even without the botheration of directly getting the permission from the Mumbai office of SEBI, regional office and sub-regional offices of SEBI are authorized to process the applications from SMEs subject to prescribed ceilings.
Sinha mentioned that the focus of SEBI is to protect the interest of investors and to promote the development of, and to regulate the securities Market. Investor confidence on a sustained basis is paramount for the development of stock market in India. Once the confidence level is shaken, it will take decades thereafter to regain the confidence. He also stressed on the need for good Corporate Governance & compliance of listing agreement terms.
Sinha also pointed out that the security market in the country is making fast progress irrespective of the ups and downs in the rate of growth of the economy. “Though the foreign Pension Funds are taking advantage by investing in Indian Security Market Indian provident fund and pension funds` are not allowed to invest in securities and are thus not able to take advantage of realising profits from securities transactions.”
CII Zonal Chairman, Nandakumar, and CII Vice Zonal Chairman, Thomas John Muthoot, also addressed the session.
Kerala Biz News