Securities and Exchange Board of India has taken several measures such as listing of quality SMEs without IPO to increase the visibility of small and medium enterprises, Rajeev Kumar Agarwal, Whole Time Member, SEBI, has said.
The approach of the regulator is to mobilise savings of more retail investors and the savers in the non-metro cities to the capital market and to facilitate raising of capital by the issuers at minimum cost, he said.
The deepening of capital market and investor protection are the priorities of SEBI, he said in his inaugural address at the Kerala Finance Enclave 2013 here on Wednesday.
“We should not have a pessimistic view of certain macroeconomic indicators and the investors should have a long-term view of India, which is definitely very positive. The Indian growth fundamentals are very strong and the country will have the benefit of demographic dividend. The policy actions being taken by the government would also bear fruits in due course,” Agarwal said.
The other measures taken by SEBI was re-jigging of investor grievance redressal process in the stock exchanges whose important feature would be that the investor gets immediate financial relief, pending arbitration or appellate proceedings
It had also taken steps for energising mutual fund distribution network so as to provide direct access to the distributors through exchange platform.
The Confederation of Indian Industry is organising the Conclave with the theme ‘Changing Markets & Regulatory Landscapes – Emerging Industry Models’. It is aimed at providing a platform for companies across the spectrum of financial services to present and discuss their concerns, challenges and growth stories.
There were holistic discussions on the business models, regulatory landscape and the emerging agenda for the industry to help outline the overarching needs and the expectations of the sector from the government and the regulatory bodies.
CII in a statement issued earlier had said that the finance sector in Kerala has always been thriving. The spread and variety in the sector provide a unique platform for consumers to have every kind of finance product and service. Regardless of the nature of service or position today, it’s a critical time for financial services organisations.
sajeevkumar.v@thehindu.co.in