PM reiterates his promise to turn Mumbai an RFC

Mumbai, Oct 6: Prime Minister Manmohan Singh today reitereated his promise to turn Mumbai as the regional financial centre (RFC).

Speaking after inaugurating 'SEBI Bhawan' at Bandra-Kurla complex in North West Mumbai today, Dr Singh said: ''Mumbai has the potential to be a regional financial centre as it is already the financial capital of the country.'' In this context, the establishment of the new 'SEBI Bhawan' was a step in the right direction, he said.

''I am not only hopeful, but also confident that SEBI will scale new heights in establishing a world-class regulatory regime,'' he added.

It must be noted that a proposal to make Mumbai an RFC, which will bring the city in line with the already existing RFCs like Shanghai and Singapore, was under active consideration at the Centre.

Earlier this year, addressing Asian Corporate conference here, the PM had said that blessed with its inherent advantages in terms of human capital and commercial acumen, Mumbai can emerge as a new financial capital of Asia.

UNI