Indian capital markets have evolved into a market-oriented, disclosure-based regulatory regime from a highly controlled, merit-based system, Sebi chief U K Sinha said.
The Securities and Exchange Board of India (Sebi) and the Indian capital markets have grown from strength to strength with each passing year.
"The grant of statutory powers to Sebi saw a sweeping evolution in the Indian markets from a highly controlled, merit based regulatory regime to a market-oriented, disclosure based regulatory regime," Sinha said in a foreword to handbook of statistics 2015.
He further said that the regulator has been constantly striving to regulate and develop Indian securities markets and protect the interests of investors and the year 2015 passed off with a lot of significant accomplishments across all the functional areas under Sebi.
In 2015, Sebi begun regulating commodity derivatives market after the merger of FMC (Forward Markets Commission) with itself.
