Sujit Prasad takes over as executive director of SEBI
Sujit Prasad takes over as executive director of SEBI
Sujit Prasad Has Taken Over The Charge Of Executive Director Of Securities And Exchange Board Of India (SEBI) And Will Handle Market Regulation Department, It Said On Thursday.
News Nation Bureau | Edited By : Vivek Arya | Updated on: 27 Oct 2017, 06:36:44 AM
New Delhi:
Sujit Prasad has taken over the charge of executive director of Securities and Exchange Board of India (SEBI) and will handle market regulation department, it said on Thursday.
Previously, Prasad was the chief general manager and acting as executive assistant to the chairman.
These measures ultimately left a dent on the market and investors confidence.
The main moves were stopping forced sales against margin loans in 2011, extending tenures of closed-end mutual funds in 2018, setting floor price last year and making phone calls to brokers and merchant bankers regularly to stop sales of big volume.
Index-saving intervention is an unfortunate necessity in the country, said AB Mirza Azizul Islam, a former caretaker government finance adviser.
Presence of retail investors is comparatively high in the market and they have a tendency to sell shares, even if it means incurring a loss, when the index goes down and criticise the regulator, he said.
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