• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources

Group Sites

• The Hindu
• Business Line
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

The SEBI chief clarified that the MAPIN initiative was not abandoned at all, despite some of the issues that cropped up.

Kolkata , May 10

National Securities Depository Ltd (NSDL), the issuing agency for MAPIN, will seek a new batch of service providers to take the initiative forward.

NSDL, which had earlier mandated five agencies, will continue to play a key role on this front, Mr M. Damodaran, Chairman of SEBI, indicated here on Tuesday.

Progressive exercise

"The exercise (of issuing MAPIN) will be conducted progressively. We will advertise to enlist these agencies," he said, adding that pending the completion of the task, PAN (permanent account number, recognised by the I-T department) will have to be used.

It may be mentioned here MAPIN has been issued in the form of an ID card - a non-transferable device - under SEBI (Central Database of Market Participants) Regulations.

The card carries a Unique ID Number and the cardholder's signature and photograph.

The SEBI chief clarified that the MAPIN initiative was not abandoned at all, despite some of the issues that cropped up. These issues will be addressed now, it is expected.

CDSL audit

At another level, the private company engaged earlier inconducting an audit of NSDL's systems has been mandated to check out the other depository, CDSL, as well.

The private entity, Mr Damodaran noted, brought together a "combination of skills," including those stemming from information technology.

Incidentally, the concept of an "improved PAN" has been mooted already. Also, a Hyderabad-based Income-Tax official has done seminal work in a related field.

It may, however, be some time before the "improved PAN" is brought into effect, it is pointed out.

More Stories on : Regulatory Bodies & Rulings | Economic Offences

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Benchmark MF lines up 2 open-ended debt plans

Copyright © 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line