Financial Daily from THE HINDU group of publications
Tuesday, Jan 03, 2006
Financial Daily from THE HINDU group of publications Tuesday, Jan 03, 2006 |
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Markets
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Regulatory Bodies & Rulings SEBI plans to set up securities training institute Our Bureau
Mumbai , Jan 2 THE SEBI is planning to set up a National Institute of Securities Market near Mumbai. The institute will primarily cater to training and research in securities market. SEBI has ambitious plans of promoting the institute as a regional learning centre. The SEBI has not disclosed its full plans for the institute but according to sources in the Maharashtra Government, the institute will come up at Patalganga near Mumbai on a 50-acre plot. The SEBI is likely to invest Rs 200 crore for setting up the facility. Government permissions could be granted within a month, the sources said. Mr M. Damodaran, Chairman of SEBI, on Monday called upon Mr Vilasrao Deshmukh, Chief Minister of Maharashtra, and sought his help in land acquisition. Speaking to newspersons at the Secretariat, Mr Damodaran said that the SEBI does not want create just a training or research institute but a unique institute with regional focus. These kinds of institutes are also in demand in other countries; therefore, I believe that India should take leadership in this area, he added.
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