Source Credit: IANS
The Securities and Exchange Board of India (SEBI) is set for a major discussion on key reform objectives in a board meeting coming soon under the chairmanship of the newly appointed Tuhin Kanta Pandey.
Several key proposals are scheduled to be looked at during the meeting, which seeks to create a safe environment for investors and improve market efficiency.
The introduction of UPI-style protections for demat accounts is one of the major agenda items. SEBI has laid a proposal to prevent unauthorized access, identity theft, SIM spoofing, and fraud by linking the unique client code of each investor to the SIM card of their mobile phone.
This will be a significant venture to safeguard digital-age investors' holdings and will be implemented from February 2025.
Independence of clearing corporations (CCs) is another very important issue on the agenda. Today, CCs in India are wholly owned by their parent stock exchanges, but SEBI is considering breaking away from this model, as is the norm in global markets. This step is aimed at enhancing the neutrality and efficiency of clearing and settlement mechanisms.
