FM Sitharaman Asks Industry Leaders To Explore Ways To Further Strengthen Financial And Capital Sectors

Union Finance Minister Nirmala Sitharaman on Monday (21 February) met with leaders of the financial and capital markets and asked them to explore ways to further strengthen the sectors, according to an official release.

Addressing the industry leaders, the Finance Minister expressed satisfaction about the resilience displayed by the financial markets even during the pandemic times.

Sitharaman urged the market participants to strive for efficiency and transparency to help channelise the resource for productive investment in the most effective manner, said a Finance Ministry release.

The Finance Minister emphasised that trust and confidence in the financial market are critical to gain traction amongst investors. She also highlighted the important role of market participants in institution-building and for making financial market stronger and investor-friendly.

At the meeting, various ideas and suggestions related to investor awareness, KYC norms, mutual fund penetration, deepening of corporate bonds, commodity derivatives and effectiveness of the market system were also discussed in detail.

Among the participants of meeting were the functioning heads of the stock exchanges, clearing corporations, depositories, mutual fund industry, stock brokerage firms, merchant bankers and credit rating agencies.