Stock Market

'Sebi ready with quick response to tackle crisis'

   Download Android App    Share in      FullScreen   CheckVideos

New Delhi: Securities Exchange Board of India (Sebi) chairman Ajay Tyagi has said instances of crises at various entities in the financial sector were affecting investor confidence, but does not indicate a problem for the entire sector. Tyagi said the market regulator has quickly responded to any issue cropping up within it’s domain.

“Definitely such things affect the trust (of investors) but that does not mean everything is bad or everything is wrong,” Tyagi said when asked whether crisis at DHFL, IL-FS and KSBL have impacted investors' trust.

Sebi barred Karvy Stock Broking (KSBL) from taking new clients in respect of its stock broking activities, on November 22, and also prevented it from using the power of attorney (PoA) given by clients after the broker was found to have allegedly misused clients' securities.

“Whatever improvement is required, we are doing it quite quickly whatever is in Sebi's domain,” Tyagi said and referred to action taken in the case of crisis at KSBL. “Karvy was in our domain.

We did very promptly.

We are trying to improve on rating agencies side and on bond market development,” he said.

Tyagi, who was speaking at an event, said he was hopeful of the positive impact of the Insolvency and Bankruptcy Code (IBC) that will be visible on the domestic corporate debt market in five years. Describing the insolvency law, which came into effect in Dec 2016, as a “landmark reform” in the country’s economic history, Tyagi said the Code has brought in behavioural changes among corporate debtors.

He added that there was scope for further improvement, and that the Insolvency and Bankruptcy Board of India was already looking into a comprehensive mechanism for insolvency proceedings.




Unlimited Portal Access + Monthly Magazine - 12 issues-Publication from Jan 2021

Buy Our Merchandise (Peace Series)

 

Contribute US to Start Broadcasting


It's Voluntary! Take care of your Family, Friends and People around You First and later think about us. Its Fine if you dont wish to contribute and if you wish to contribute then think about the Homeless first and Feed them. We can survive with your wishes too :-). You can Buy our Merchandise too which are of the finest quality.

Debit/Credit/UPI

UPI/Debit/Credit

Paytm

STRIPE

Details
Category: Stock Market


21