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The Securities and Exchange Board of India on Tuesday warned ‘dabba’ (illegal) traders in stock markets and said it would take stern steps against them.
Addressing a conference of brokers of the Saurashtra and Kutch regions of Gujarat at Rajkot, SEBI Chairman UK Sinha expressed concern over the high volumes of illegal trading in these regions, unlike other States. Describing this as a “very serious” matter, he assured that SEBI will take strong steps against such traders.
Sinha said SEBI will take up this issue with the Gujarat Government and State police and collaborate with them to control the practice.
He advised entrepreneurs to approach various financial institutions, apart from banks, for their financial requirements. SEBI had organised an interactive seminar with the small and medium enterprises (SMEs) of Saurashtra on the issue of “SME funding: Role of capital markets” along with the NSE and the Small Industries Development Bank of India.
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