Union Corporate Affairs Minister Dr. M. Veerappa Moily held a meeting in New Delhi with the representatives of leading trade & business chambers, professional institutes under the Ministry of Corporate Affairs, SEBI and RBI to workout the modalities of implementation of conclusions emerging from the deliberations conducted by the Ministry last February in the metros to refurbish corporate governance and further the interests of the investors.
During the meeting the Minister emphasized upon the need for a strong and vibrant capital market and for this purpose he desired to constitute a committee comprising of officers from the Ministry, SEBI, professional institutes, leading trade & business chambers etc. He also felt the need to protect the interest of investors and to build credibility of the companies. This included the awareness regarding financial literacy through introduction of proper awareness in school curriculum. For this purpose an appropriate blue-print may be drawn up in consultation with Ministries of Finance and HRD, NCERT, different state education boards and CBSE. Suggestions like colour coding of financial products and simplification of technical financial information in coordination with SEBI, Ministry of Finance, RBI for evolving an effective mechanism to protect and empower the investors came up during the discussion. Suggestions were also received on effective investor grievance redressal mechanism during the discussion. The Minister also highlighted the need to channelize the house hold savings in to investments through effective investor education nationwide.