SEBI to educate stock market business in NE

Agartala, May 27 (UNI) Securities Exchange Board of India (SEBI), regulatory authority of the country's capital market, will launch an education programme on stock market business in North Eastern states this fiscal to make people aware of investment benefits.

Talking to newspersons here today, SEBI Chairman M Damodaran said the poor investment in stock market from NE had prompted them to educate the civil society and it would start from Tripura.

Mr Damodaran, on his four-day visit to state to discuss the issues of promoting stock market in the region, had hold meetings with chief minister Manik Sarkar, top bureaucrats and private entrepreneurs of the state.

Describing growth of the business, he stated that presently 28 Registered Investors Associations of capital market, including Mizoram, Jharkhand, Chhatisgarh and Uttarakhand, are operating under Bombay Stock Exchange and National Stock Exchange, which was only eight last year.

''Efficiency of Indian capital market is far better than the US and we are second in terms of total number of trade among 23 stock exchanges across the globe,'' Mr Damodaran said.

Ruling out the possibilities of investment in Indian stock markets by extremist groups, he asserted that SEBI had ensured all investment through banks through cheques only.

More over, as per the guidelines of the RBI, the banks were maintaining a close watch on all transactions, including the fund inflow to the individual customer and number of documents required for opening a bank account, he added.

UNI