SEBI to build strong business platform

The Securities and Exchange Board of India (SEBI) is working on building a strong business platform for scalability and improving the quality of intermediaries, said SEBI chairman G N Bajpai on Saturday.

Inaugurating an investors camp in Bangalore, he said SEBI was also working on e-mutualisation of stock markets in the country.

"SEBI will also introduce the T+1 (transaction day plus another day) settlement from the existing T+2, once Real Time Gross Settlement (RTGS) is adopted by all the banks in the country," he noted.

He further added that efforts were on for the integration of the securities market and its consolidation.

Asserting that the Indian stock market was one of the most transparent in the world, Bajpai said, "there is constant monitoring of broker platforms in real time and auto disablement of terminals during a crisis."

He said SEBI has ensured that settlement is guaranteed if any transaction is done on the trading platform.

Stating that it is impossible for any regulator to eliminate risks absolutely, Bajpai said, ``what we are expected to do is minimise risks and pronounce to the marketplace that these are the areas you should be careful about."