Bill for investor protection education to be tabled soon

Mumbai, Nov 8 (UNI) The Government is likely to move a bill in Parliament to set up an Investor Protection and Education Fund to be administered by the Securities Exchange Board of India (SEBI), said SEBI wholetime member V K Chopra.

The bill will help in sensitising retail investors about vital aspects like corporate governance norms, independent directors' role and their own duties and responsibilities, said Mr Chopra, addressing a workshop ''Investor Awareness and Future of Indian Capital Markets'' here yesterday.

''SEBI always encourages investors to make investment through mutual funds. Tt also provides choices to suit the needs of different classes of investors'', he said.

''It has also launched innovative tradable products such as Gold Exchange Credit Fund (in which gold was the underlying credit asset) in the market. Recently, SEBI approved the Real Estate Mutual Funds - of which some modalities were being worked out-so as to strengthen the housing industry'', he added.

Another major initiative taken by the SEBI is to set up a National Institute for Education, Training and Research in Securities Market on a 60-acres plot in Patal Ganga, Near Panvel in Mumbai, he said.

''The blueprint of this magnificent project is ready, the structural details of the institute is being finalised, and the project will get going very soon'', he added.

''SEBI is committed to the development of the securities market, and make it the true barometer of the national economy'', he said.

''With our strong emphasis on practice of corporate governance, the disclosure norms, and appointment of vigilant independent directors on boards, manipulation of the market by unscrupulous elements will become increasingly difficult'', he added.

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