Sebi chief to meet Jaitley tomorrow

Tags: News
Days ahead of the Budget, Sebi chairman U K Sinha will meet Finance Minister Arun Jaitley tomorrow and is likely to suggest steps to improve investment climate with a view to garner household savings in capital market.

In his presentation, sources said Sinha will press for measures to increase participation of retail investors in mutual fund and equity market.

The meeting assumes significance as Jaitley is gearing up to present his maiden Budget in Parliament on July 10.

Sebi has been pressing that there is a need for uniform tax treatment of retirement related investments irrespective of the investment routes - pension products launched by mutual funds or the retirement funds managed by the government's EPFO (Employees' Provident Fund Office).

To help channelise more funds for long-term investment purposes, the marekt regulator has suggested to the government that it allow all PSUs to park their surplus cash in mutual funds.

The current norms permit only Navratna and Miniratna Central Public Sector Enterprises (CPSEs) to invest in public sector mutual funds.

There are about 45 fund houses present in the country with total assets worth over Rs 10 lakh crore, but fund mobilisation has been tough in the past couple of years and Sebi is of the view that their asset base has potential to rise to Rs 20 lakh crore within five years.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • India’s festivals teach us to share our wealth and joy

    India is an aporia in its own true sense.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Tushar Gandhi

Sustainable model for rural sanitation

Prime minister Narendra Modi has promised to build a toilet ...

Zehra Naqvi

How smells evoke strong memories

Remember that time when a passing fragrance transported you to ...

Dharmendra Khandal

Indian zoos need a fresh approach

Recently, when a man jumped in a tiger trench of ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture