Capital market regulator SEBI has been empowered to initiate stringent action against unauthorised chit funds, said U.K. Sinha, the Chairman of the organisationAddressing a national seminar on “Investor education and protection for inclusive growth” at Bhubaneswar, Sinha said the recent ordinance had better equipped the regulator to take stringent action against businesses violating rules and regulations.
The seminar, organised by the Institute of Company Secretaries of India (ICSI), was inaugurated by te Odisha Chief Minister Naveen Patnaik. In his inaugural address, Patnaik emphasised the need for strict regulations to protect investors.
With SEBI having opened a local office in Bhubaneswar, Patnaik expressed confidence that investors would get the opportunity to redress their grievances and also improve their awareness of the regulator’s role in protecting them. Asish Kumar Chauhan, Managing Director & CEO, BSE, said inclusive growth could be achieved through financial literacy.