Mr C.B. Bhave was philosophical in what could be his last media appearance as SEBI Chairman.

When media persons were curious to hear about his retirement, he said it was the institution that was supreme and not the person heading it.

“Chairmen come and go, but SEBI remains,” said Mr Bhave while signing off Monday's press conference.

On being asked whether this was his last media interaction as SEBI chief, he remarked that the probability of another SEBI board meeting within the next 10 days was remote and that he had also read the notification regarding the appointment of the next SEBI chief.

Smiling throughout his interaction with media persons after the board meeting, Mr Bhave said that he has been lucky to have been a part of SEBI since inception and has seen the regulator evolve in its 19-year-old journey.

When asked about the experience of being SEBI chief in the last three years, he steered clear from elaborating his personal experiences and said that he was reluctant to do so.

On black money being pumped into the securities market through tax havens, he said the tightening of KYC norms was aimed at plugging this phenomenon.

“We need to know the source of income, if the income tax department asks for it,” he said.

On ASBA (application supported by blocked amount), he said SEBI needs to factor in the operational and practical aspects while implementing ASBA and bring down the timeline from issue closing to listing from 12 to seven days.

“It has been a pleasure interacting with you and thank you for your cooperation,” he concluded.

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