is been taken as extra cost of doing business so now more and more penalty is been passed against individuals", and Sebi has been following the same example.
He said: "Last five years, it has been proved within India and outside India that it is no longer situation where it is business as usual. People are becoming more demanding and more aware and their requirements have to be taken into account."
The chiefs of premier stock exchanges, BSE and NSE, said that gaining investor trust is crucial for development of the capital markets.
According to BSE Managing Director & CEO Ashish Kumar Chauhan, capital markets have "not done a great job in channelising the saving of people and gaining their trust to invest in stock markets".
NSE Managing Director & CEO Chitra Ramkrishna said that for deepening and widening the investor base one has to focus on growth of financial products such as Exchange Trades Funds, derivatives and fixed income products.
She also that the government is launching the CPSE ETF as a product with the right composition and returns. "It will be a very good product for both retail and institutional investors."
She added that there are three game changers for the markets to sustain and accelerate growth: bringing in pension funds, encouraging funds like ETFs and filling the gaps by bringing in missing products in the derivatives segment.
The pension funds have a social objective of providing retirement income for the aged population.