Finance Minister P Chidambaram, concerned over erosion of confidence among small investors, asked SEBI to regulate the market fearlessly, to protect their interests, and not to “bow” or “bend” before anyone.
“Win confidence of small investors. It is when a small investor says my money is safe in the financial market because I have SEBI watching over my money, that is the day when SEBI would have achieved its objective,” he said.
Mr Chidambaram also asked SEBI to scale up its human resource. “The country, the economy and the market are too large and are poised to become larger. We need far more than 600 men and women to regulate the stock market,” he said.
The Minister praised SEBI for the work done in the last 25 years for regulating the stock markets.
The volatility in the stock markets is keeping small investors away. The government and SEBI have taken various steps to win over the confidence of retail investors.