The local office of Securities and Exchange Board of India (SEBI) at Ranchi was inaugurated by Shri R.S. Sharma, Chief Secretary, Government of Jharkhand, today, in the presence of Shri U.K. Sinha, Chairman, SEBI. Speaking on the occasion, Shri Sharma stressed on the need for the public financial institutions and regulators to work towards financial inclusion at the grassroots level. He stressed the need for innovative products from banks and insurance companies which are low in value and easily accessible to common man.
Shri U.K.Sinha, said that SEBI had decided to open its local office in 16 places in the last two years. Ranchi is one such office. SEBI will have its presence in all major States in the country. The local office would involve in spreading financial literacy and redressing the grievance of the investors in the region. He emphasized the need for, State Level Co-ordination Committee (SLCC) meetings to be chaired by the Chief Secretary of the State concerned and, for the periodicity of such meetings to be increased to once in a quarter to tackle the menace of illegal fund mobilization by unscrupulous companies. He stated that the local office at Ranchi would be the SEBI-investor interface to address issues at the local level.
Mumbai
March 19, 2014
