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The Indian financial markets are in ‘perfect' condition, Mr U.K. Sinha, Chairman, SEBI, said.
Responding to queries from newspersons on the sidelines of the convocation of the Institute of Insurance and Risk Management (IIRM) here on Friday, Mr Sinha said, the market crash today could be because of global developments of which India was a part.
“We are watching the situation. Everything is perfect. Our risk management mechanism is in tact. There is nothing to worry,” he said.
On the clearance of norms for initial public offers (IPOs) by the insurance companies, he said, SEBI would announce them “very soon.” “We are in the advanced stage of discussions with the Insurance Regulatory and Development Authority (IRDA) on the issue,'' Mr Sinha said.
From its side, the insurance regulator had already announced norms for public offers by insurers.
The companies, which have continuous operations for the last ten years were eligible to go for IPOs, it said.
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