Protecting investors in the backdrop of the global financial crisis, which eroded a significant market capitalisation in the stock markets, topped finance minister Pranab Mukherjee’s agenda at the meeting with market regulator Securities and Exchange Board of India (Sebi) board.
“We generally discussed some of the problems Sebi... We shall have to address and pay attention, particularly to the basic objective of Sebi to protect investors in this current financial crisis,” Mr Mukherjee told reporters after the meeting on Friday. This was Mr Mukherjee’s first meeting with the full board of Sebi after taking over as the finance minister.
The meeting was also attended by finance ministry officials including finance secretary Ashok Chawla. Mr Mukherjee said the problems faced by some industry players, such as mutual funds post-financial crisis, and measures taken to address them also figured in the discussions.
Enhancing the corpus of the investor protection fund and financial literacy in the country also figured at the customary post-budget meeting, an official, who attended the meeting said.
The finance minister will also meet the RBI board on Saturday and expected to discuss the issues concerning the banking sector and financial inclusion.
Mr Mukherjee said RBI and Sebi were two important institutions that the finance ministry constantly needs to be in touch with.
“Two important institutions that the finance minister meets after the presentation of the Budget are Sebi and RBI.
On Saturday, I will have a meeting with RBI, on Friday I had a meeting with Sebi,” he said.
“We generally discussed some of the problems Sebi... We shall have to address and pay attention, particularly to the basic objective of Sebi to protect investors in this current financial crisis,” Mr Mukherjee told reporters after the meeting on Friday. This was Mr Mukherjee’s first meeting with the full board of Sebi after taking over as the finance minister.
The meeting was also attended by finance ministry officials including finance secretary Ashok Chawla. Mr Mukherjee said the problems faced by some industry players, such as mutual funds post-financial crisis, and measures taken to address them also figured in the discussions.
Enhancing the corpus of the investor protection fund and financial literacy in the country also figured at the customary post-budget meeting, an official, who attended the meeting said.
The finance minister will also meet the RBI board on Saturday and expected to discuss the issues concerning the banking sector and financial inclusion.
Mr Mukherjee said RBI and Sebi were two important institutions that the finance ministry constantly needs to be in touch with.
“Two important institutions that the finance minister meets after the presentation of the Budget are Sebi and RBI.
On Saturday, I will have a meeting with RBI, on Friday I had a meeting with Sebi,” he said.
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