The capital market regulator would continue with its efforts to deepen and widen the Indian market and take appropriate regulatory measures to make them resilient enough to withstand volatility, Securities and Exchange Board of India (Sebi) observed in its annual report released.
Reduction of transaction costs and cutting down the time taken in completing the transactions would be a focus area, report said, adding that in the coming years, Sebi would continue its efforts, with a clear objective of investor protection through investor education and market development.
The Indian securities market remained stable during 2009-10, as the global markets too witnessed improved stability with indication of prospects of firm recovery. However, fiscal concerns remain strong as sovereign risks continue to be a cause of concern in some European countries. During the year, Sebi initiated a series of policy initiatives in primary market to make the market investor friendly and to mitigate risks, including the introduction of the concept of anchor investor, introducing pure auction in the FPO process, extension of ASBA mechanism and strengthening of the regulatory framework governing public offerings.
The report said Sebi would continue to work towards making the issue process transparent, investor friendly and to mitigate risks associated with the system.
A series of measures have been introduced for mutual funds, the report noted, for empowering the investors so that the mutual fund industry can become more resilient and achieve sustainable growth.
