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.

EDITORIAL OF THE DAY

  • Air India is a reminder that government should not dilly-dally on tough decisions

    Finance minister Arun Jaitley recently hinted that the government was open to selling its stake in perennially loss making national carrier, Air India

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Sandeep Bamzai

Freedom Files : Creating a communal cleave

The Nawab of Bhopal Sir Hafiz Hamidullah Khan, saboteur ...

Gautam Datt

Cattle cauldron simmers: Govt mulling order rework

Ban on sale of cattle for slaughter at animal markets ...

Rajgopal Nidamboor

Live life to its fullest potential

Life is full of charm. Yet, we don’t often discern ...