Focus on compliance, India Inc told

Special Correspondent
print   ·   T  T  
U. K. Sinha
U. K. Sinha

The Securities and Exchange Board of India (SEBI) Chairman U. K. Sinha, on Wednesday, urged corporates to focus more on compliance and strengthen their internal control systems.

He also stressed the need for winning back the trust of investors, particularly retail investors, while speaking at CII’s fourth capital markets summit on the theme “Deepening of capital markets: faster growth of the economy,” here.

Mr. Sinha said that between 2009 and now, Rs.60,000 crore worth of regulator’s approval were allowed to lapse by companies which had filed draft red herring prospectus with SEBI, presumably owing to market conditions.

On increasing domestic institutional participation, namely, pension funds into the market, Mr. Sinha said that corporates should pro-actively offer inflation-adjusted return to their employees through NPS or otherwise, instead of waiting for the government to institute reforms.

On various measures implemented by SEBI related to disclosure norms, Mr. Sinha said that there had been a decline in volatility post implementation of these, which bode well for the capital markets, more particularly, equity market.

On eIPO, Mr. Sinha urged bankers and corporates to publicise the importance of eIPOs to attract retail investors into the equity market.



Recent Article in BUSINESS

Chinese President Xi Jinping, (bottom left) and Premier Li Keqiang,(bottom right), and delegates stand during the singing of the Chinese national anthem at the opening session of the National People’s Congress at the Great Hall of the Peoplein Beijing on Thursday.— PHOTO: AP

China scales down growth guidance to reset economy

China has decided to scale down its 2015 growth rate target to 7 per cent as part of an effort to gradually reset its economy along a sus... »