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The Finance Minister, Mr Pranab Mukherjee, today met the SEBI officials, including its new Chairman, Mr U.K. Sinha, here, and reviewed the activities of the market regulator.
“I had a very fruitful and useful discussion with the (SEBI) board members,” he said after the Securities and Exchange Board of India (SEBI) board meeting.
Mr Sinha made a presentation about the different activities being carried out by the market regulator.
“Lot of improvements are taking place and other activities as we know,” Mr Pranab Mukherjee said.
As part of a custom, the Finance Minister meets the entire board of SEBI after presenting the Union Budget. He tabled the Budget on February 28, 2011.
As per the Budget proposals, foreign entities will be able to invest directly in mutual funds, which will increase the fund flow into capital markets.
“To liberalise the portfolio investment route, it has been decided to permit SEBI registered mutual funds to accept subscriptions from foreign investors who meet the KYC requirements for equity schemes,” the Finance Minister said in his Budget speech.
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