SEBI seeks quarterly meetings of state panels

India Infoline News Service | Mumbai |

SEBI has sought meetings of state-level coordination committees every quarter to curb illegal fund pooling acts

In order to tackle the issue of illegal fund pooling activities, SEBI (Securities and Exchange Board of India) has sought meetings of state-level coordination committees every quarter.

Speaking at the inauguration of regulator's local office at Ranchi, SEBI chairman UK Sinha said the periodicity of state-level Coordination Committee meetings should be increased to once a quarter to curb the issue of illegal fund mobilisation activities by unscrupulous firms.

According to Sinha, such committees should be chaired by the Chief Secretary of a state.
The Ranchi office would work towards spreading financial literacy and redressing investor grievance in the region.
 

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