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SEBI Chief Madhabi Puri Buch said on Monday that there would soon be a mechanism to automatically populate a single filing made by companies onto other exchanges. “If you file disclosure with one exchange, it will automatically go on all exchanges. It is a work in progress,” Buch said at an event organised by the Confederation of Indian Industry.
- Also read: Congress accuses SEBI Chairperson of conflict of interest, receiving income from ICICI Bank
The market regulator recently proposed changes to listing and disclosure requirements based on recommendations by a committee led by SK Mohanty, former whole-time member of SEBI.
Buch said the pathway to Viksit Bharat requires diversity of creating investor confidence by removing the language barrier. The IPO prospectus should be in 15-16 vernacular languages to promote wider investor participation, she said.
The inclusion agenda is of prime importance to SEBI and the introduction of a ₹250 Systematic Investment Plan (SIP), by reducing the servicing cost, is a shining example in the direction of making financial products accessible to the common man, said Buch.
“India is firmly on the path of growth and economic prosperity and is progressing firmly on the Viksit Bharat trajectory. This is very much evident from the two important sets of real-time data, namely growth of taxes-GST, advance tax etc and rising energy consumption, both of which are a testimony to India’s rising prowess,” the SEBI chief said.
Importance of Speed
Buch emphasised the importance of speed, as exemplified by digitisation of processes, as the third aspect to channelise markets and build efficiency. This, according to her, requires a definite focus and a clarity of thought. SEBI has restructured its operations to have in place a clear set of policies, protocols and procedures for the purpose.
Meanwhile, she refrained from commenting on the investment vehicle, Real Estate Investment Trusts (REITs).
“There are regulations simplifying REITs. But today if I utter the word REIT, I am accused of conflict of interest. I will abstain from talking on REITs,” said Buch.
The remarks came as US short-seller Hindenburg Research raised questions about a potential conflict of interest involving Buch and private equity major Blackstone.
The march towards the Viksit Bharat would be hastened by efficient utilisation of national resources which would drive economic prosperity and in effect facilitate social inclusion by ensuring that every citizen participates in the growth process, said Buch. Apart from financial capital, national resources would include generation of profits, reserves and taxes, among others.
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