The Securities and Exchange Board of India (SEBI) opened its 17th local office in the city from where it would reach out to the potential investors and public in the State.
SEBI’s whole time member Santosh Kumar Mohanty along with Commissioner of Police Ch. Dwaraka Tirumala Rao inaugurated the office premises on Visalandhra Road in Moghalrajpuram on Saturday.
Speaking to reporters later, Mr. Mohanty said that the State had a good amount of contribution in capital sharing as it had about ₹35,000 crore assets under management (AUM) and 2,100 mutual fund distributors.
Also, the State had about 9,000 trading terminals and around 10 lakh demat accounts with a turnover of over ₹10,000 crore, Mr. Mohanty added.
Resource persons
Mr. Mohanty said that the local office in the city would focus on outreach programmes to achieve the maximum financial inclusion among people from all walks of life.
“People should know the importance of saving and realise the benefit of investing. SEBI has over 13,000 resource persons in the country and the city office will have 30 resource persons who would go round the State and create awareness,” Mr. Mohanty said. Further, he said SEBI was going to open its 18th local office in a northeastern State soon.
The local office in the city will provide all financial services and products and other support required by the investors.
