Sebi Chairman U K Sinha said Finance Minister also discussed implementation of Union Budget announcements related to markets

Pitching for greater transparency in rule-making and other functions of regulators, Finance Minister Arun Jaitley today asked Sebi to be vigilant about possible violations in markets and focus more on attracting retail investors and addressing their grievances.

Talking to reporters after the board meeting, Sebi Chairman U K Sinha said that the Finance Minister also discussed the implementation of Union Budget announcements related to the capital markets, as also the current state of the investment climate in the country.

In today’s board meeting, Sebi cleared two key proposals to enable creation and listing of Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs), for which tax concessions were announced by Jaitley in his budget speech.

In his first interaction with the board members and top officials of the capital markets regulatory body after taking charge as Finance Minister, Jaitley also discussed issues related to recommendations of the Financial Sector Legislative Reforms Commission (FSLRC).

The FSLRC report, submitted last year to the government, has suggested wide-ranging reforms in the way the financial sector is regulated in the country including in the banking, insurance and capital market segments.

Sinha indicated that the government might have wider consultations before taking any legislative actions on FSLRC recommendations, but it was up to the government to take any final call on these issues.

For more visit: Business Standard

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