Securities and Exchange Board of India (SEBI) has constituted a committee to increase foreign investments in the capital markets. The market regulator has constituted an advisory committee called the on ‘FPI Advisory Committee’ or FAC to ease ways for foreign investors to invest in the Indian markets by reviewing the existing processes and recommend new ones. Zee Business’ Brajesh Kumar reports.
The SEBI’s decision to constitute a committe is with a view to simlify investment processes in the Indian capital markets and also suggest new ways to attract investments.
Apart from this, the committe will also look at increasing participation in the domestic bond markets.
The committee will suggest ways to bring changes in the existing rules to attract investments, enhance transparency by suggesting ways to amend the current rules. It will also give its recommendations on issues related to custodians.
The committee comprises of CEOs of the Exchange and Clearing Corporation, depositories, legal experts, consultancy firms and representatives of foreign banks.
The chairman of this committe is the former Chief Economic Advisor (CEA) KV Subramanian. The movement of the markets has been for long dependent upon the Foreign Portfolio Investors (FPIs). Though, over the past few years, the reliance has reduced to some extent.
However, the FPS still hold a significant role in deciding the movement of the stock markets.
– SEBI constitutes a 15 member committee call FAC
– The committee also comprises members from the Reserve Bank of India (RBI)
In order to provide recommendations and advise SEBI on policy matters relating to Foreign Portfolio Investors (‘FPIs’), SEBI has constituted a Standing Committee for facilitation of FPI investments. The members of the committee are:
i. Shri K. V. Subramanian, Former Chief Economic Adviser to the Government of India – Chairman
ii. Shri Harun R Khan, Deputy Governor (Retired), RBI
iii. Shri R. Subramanian, Executive Director, RBI
iv. Shri Madhav Kalyan, CEO, JP Morgan Chase Bank, N.A.
v. Shri Hitendra Dave, CEO, HSBC Bank Ltd.
vi. Mr. Martin Graham, Managing Director, Global Public Policy Group of iShares (BlackRock).
vii. Shri Bobby Parikh, Managing Partner, Bobby Parikh Associates
viii. Shri Rushabh Maniar, Partner, AZB & Partners
ix. Prof. (Dr) Nigam S. Nuggehalli, Registrar, National Law School of India University, Bengaluru
x. Shri Rajesh Gandhi, Partner, Deloitte Haskins & sells LLP
xi. Shri Shashwat Alok, Assistant Professor, Indian School of Business
xii. Shri Ashishkumar Chauhan, MD & CEO, National Stock Exchange of India Ltd.
xiii. Ms. Padmaja Chunduru, MD & CEO, National Securities Depository Ltd. (NSDL)
xiv. Shri Nehal Vora, Member, MD & CEO, Central Depository Services India Ltd. (CDSL)
xv. Shri Vikram Kothari, Managing Director, National Securities Clearing Corporation Ltd. (NSCCL)