The Hindu Business Line : Jagdish Capoor to head SEBI panel on Mapin norms

MR JAGDISH Capoor, former Deputy Governor, RBI, will head the committee set up by the Securities and Exchange Board of India to review the MAPIN requirements.

MAPIN is SEBI's exercise to fingerprint and grant a unique identification number (UIN) to all market participants.

The appointment of the committee assumes significance as MAPIN has come in for serious criticism from several quarters.

The committee will re-examine the coverage of the MAPIN and define the category of market participants who would be required to obtain unique identification numbers.

The committee will also decide on the future implementation schedule for MAPIN, based on the coverage. It will also review the cost of obtaining the unique identification number for market participants and investors.

Currently, the service providers charge Rs 300 for allotting these identification numbers.

The committee, headed by the former Deputy Governor, Reserve Bank of India, will also have Mr C.B. Bhave, Chairman and Managing Director-NSDL, Mr A.K. Narayan, President - Tamil Nadu Investors' Association, Ms Deena Mehta, Director - Securities Industry Association of India, Mr A.P. Kurian, Chairman - Association of Mutual Funds in India and Mr Prithvi Haldea, Managing Director - Prime Database, on board.

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