Capital markets initiatives in Budget

New Delhi, Feb 28 (UNI) In line with measures announced every year to strengthen the capital markets, Finance Minister P Chidambaram proposed in the Budget 2007-08: * PAN to be made sole identification number for all participants in securities market with an alpha-numeric prefix or suffix to distinguish a particular kind of account; * Idea of Self Regulating Organisations (SRO) to be taken forward for different market participants under regulations to be made by SEBI; * Mutual funds to be permitted to launch and operate dedicated infrastructure funds; * Individuals to be permitted to invest in overseas securities through Indian mutual funds; * Short selling settled by delivery, and securities lending and borrowing to facilitate delivery, by institutions to be allowed; and * Enabling mechanism to be put in place to permit Indian companies to unlock a part of their holdings in group companies for meeting their financial requirements by issue of Exchangeable Bonds.

UNI