Sebi, a child of the 1991 reforms, needs reform
Earlier this month, the Securities Appellate Tribunal (SAT) reprimanded one of Sebi's whole-time members for dealing with its directions in a shoddy manner
One of the highlights of the union budget speech in 1991 was the decision to give statutory powers to the Securities and Exchange Board of India (Sebi) to regulate India’s capital markets. Alongside, the Controller of Capital Issues was abolished. This reform has undoubtedly done the country a world of good.
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