The day is not far when Indian investors could see a Rs 250 a month SIP, which will be one more step towards financial inclusion, said SEBI Chairperson Madhabi Puri Buch on Monday. Speaking here at a CII event, Buch added that the initiative is being worked out in conjunction with the mutual fund industry.
Inclusion agenda is very dear to SEBI, and the Rs 250 SIP, by offering lower cost of servicing, is indeed a beacon in the direction of taking financial products to the common man," Buch told the gathering.
In her address, Buch underscored the need to build scale through technology adoption for taking the market forward.
The second area to drive the 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 the development of new products in co-creation and consultation with the industry to cater to the emerging needs," she said.
The Chairman of SEBI said the journey towards Viksit Bharat would be accelerated by efficient utilization of national resources. This would, in turn, accelerate economic growth and, in effect, enable social inclusion by empowering the participation of every citizen in the process of growth.
Finally, the pathway to Viksit Bharat needs diversity in 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, DG, CII, highlighted some of the key achievements listed under the leadership of the SEBI chairperson, such as the development of the settlement system by reforming it, working groups being set up with the motive of simplification of regulations, emphasize on technology, and many more.
Sanjiv Bajaj, immediate past president, CII, demanded establishing a robust bond market to clear the confusion regarding asset class which would help retirement planning, regulatory interventions to increase penetration of pension products among others.
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