Sebi may extend UIN deadline

The Securities and Exchange Board of India (Sebi) may extend the deadline for retail investors to obtain the unique identification number (UIN).

The regulator had set March 31, 2005, as the deadline after which no one will be allowed to trade for amounts of more than Rs one lakh without a UIN in the equity markets or in mutual fund schemes.

Speaking on the sideline of a capital markets seminar in Mumbai on Friday, Sebi chairman G N Bajpai said, "We will not put investors to inconvenience."

He said right now the deadline for getting the UIN remained March 31, 2005, but market participants had made representations to him.

"We may extend the date if necessary," he added.

Market players have been lobbying hard to push the March 31 deadline with the regulator, as the proper infrastructure is still not available in smaller cities.

Sebi had initiated the process of all investors registering themselves in the MAPIN database, and acquiring the UIN as part of its attempts to bring in some order in the markets.