Securities and Exchange Board of India Chairman U.K. Sinha today opened its local office in the city as part of its efforts to reach out to investors across the country.

As part of its decentralisation of work to regional offices, the Mumbai-headquartered SEBI is opening new local offices in different regions of the country.

Insurance Regulatory and Development Authority Chairman T.S. Vijayan and SEBI whole-time member Rajeev Agarwal were also present on the occasion.

In August, SEBI had said that it would open five more local offices at Chandigarh, Jaipur, Indore, Patna or Bhubaneswar and Banglore or Kochi in the current fiscal.

The market regulator is looking to strengthen its regional offices since physical proximity of its office to investors and intermediaries would promote deepening and broadening of the securities market.