|
New Delhi, March 20: The finance ministry is set to initiate the process of creating an Investor Protection Fund under the Securities and Exchange Board of India (Sebi).
The ministry will soon write to Sebi, Reserve Bank of India, the ministry of company affairs, investor associations and industry chambers to explore the means for the fund creation.
In Budget 2006,finance minister P Chidambaram had announced a slew of measures for boosting the capital markets, including the setting up of an investor protection fund under the aegis of Sebi.
He had said that the fund would be created through fines and penalties recovered by Sebi. The move, he said, would bolster confidence among retail investors who should be the key drivers of the capital market.
According to official sources, the ideas being floated currently also include directing banks and mutual funds to set aside unclaimed deposits and interests towards creation of the fund.
“We will evolve a consensus on how to generate the resources (for the Fund). Suggestions of all agencies would be taken on board,” a finance ministry official said.
| Wooing Investors | |||||||
| • Ministry to write to Sebi, RBI and industry bodies to explore the means for fund creation • Fund to be created through fines & penalties recovered by Sebi • Fund to address issues concerning the investing community | ...
| Single Page Format | 1 - 2 - Next |
Discuss this story on expressindia forums
|
|
 |
 |
 |
About Us | Contact Us | Advertisers | Site Map | Make us your homepage | Work for Us | RSS | Subscribe | Electronic Edition | Privacy Policy© 2009: The Indian Express Limited. All rights reserved throughout the world
