Mumbai, Sep 2 (IANS) The day is not far when Indian investors could witness a Rs 250 per month systematic investment plan (SIP) that will make financial inclusion more accessible, SEBI Chairperson Madhabi Puri Buch said on Monday.
Speaking at a CII event here, Buch said the initiative is being worked on in collaboration with the mutual fund industry.
“The inclusion agenda is of prime importance to SEBI and the introduction of a Rs 250 SIP, by reducing the servicing cost, is a shining example in the direction of making financial products accessible to the common man,” Buch told the gathering.
In her address, Buch underscored the importance of building scale through technology adoption in taking the market forward.
“The second area to drive markets is that of complexity for which an ecosystem is being developed to increase the asset classes so that there is a right product for the right person. SEBI would facilitate development of new products, in co-creation and consultation with industry, to cater to the emerging needs,” she mentioned.
The SEBI Chairperson said that the march towards the Viksit Bharat journey 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.
“Finally, the pathway to Viksit Bharat requires diversity of creating investor confidence by removing the language barrier. IPO prospectus should be in 15-16 vernacular languages to promote wider investor participation,” Buch noted.
Chandrajit Banerjee, Director General, CII, spotlighted some of the notable achievements under the leadership of SEBI chairperson such as speeding up the settlement system through reforms, setting up of working groups for simplification of regulations, emphasis on technology, among others.
Sanjiv Bajaj, past president, CII, called for creating a strong bond market, clearing the ambiguity about asset class to facilitate retirement planning, regulatory interventions to enhance the penetration of pension products, among others.
–IANS
na/
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
