BJP voices concern over safety of 100 million small investors

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New Delhi, Feb 22 (UNI) Expressing concern about the flow of tainted money in stock market and real estate business, the BJP today said it would lead a delegation to Prime Minister seeking safety and security for ten crore small investors of the country and ask for a regulator to keep a check over the real estate mafia.

The delegation of BJP Investors Forum will be led by senior BJP leader Murli Manohar Joshi and submit a memorandum signed by lakhs of investors backing the demand.

Talking to newspersons here, Dr Joshi said the large investor community was afraid as there was no system in place to ensure the safety of their investments in the volatile stock market.

The Government was not even aware of the source of investments of several Foreign Institutional Investors (FIIs), who were allowed to invest through Participatory Notes, Mr Joshi said, pointing to the latest losses suffered in the stock markets.

Similarly in the real estate market, there were many unscrupulous operators, who would flee with people's money in no time without fulfilling the promises they made to the consumers.

The Government had absolutely no control over these corrupt builders and the bankers, who raise interest up to 30 per cent in the guise of floating rates, he alleged.

A regulatory authority should be in place to protect the interests of the common man, who invests his hard earned money in the stock market to make his house or plan his child's future.

Small investors are the backbone of the Indian economy and their interests should be protected at any cost, Mr Joshi added.

UNI MCN GT KP1818

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