Ministry of Finance (MoF) is planning to place its representatives across all committees empanelled by capital market regulator Securities and Exchange Board of India (Sebi), it is learnt. The Department of Economic Affairs (DEA) has directed the market regulator to provide a list of all the committees constituted so far, according to sources.
The Sebi website shows a total of 33 committees. Of this, 21 are expert-panel committees related to fair market conduct, primary and secondary markets, mutual funds, cyber security, corporate governance, takeover panel, among others.
Other side Capital market regulator Sebi has rationalised constitution of regulatory committees at market infrastructure institutions such as stock exchanges and depositories to ensure an effective oversight of functioning of such entities by giving more powers to public interest directors.
Sebi also said that a stock exchange after grant of recognition can commence trading operations with a minimum of 25 trading members, in place of the earlier requirement of minimum 50 members.