FM urges stock market players to strive for efficiency, transparency

Trust, confidence in the financial market critical to gain traction amongst investors: Sitharaman

Union Finance and Corporate Affairs Minister Nirmala Sitharaman on Monday emphasised that trust and confidence in the financial market were critical to gain traction amongst investors.  She urged market participants to strive for efficiency and transparency to help channelise resources for productive investment in the most effective manner. She was interacting with financial and capital market participants in Mumbai as part of her visit to discuss the Union Budget. She asked industry leaders to explore ways to further strengthen the sector. Highlighting the important role of market participants in institution-building and for making financial markets stronger and investor-friendly, she expressed satisfaction about the resilience displayed by the markets even during the pandemic. At the interaction, ideas and suggestions related to investor awareness, KYC norms, mutual fund penetration, deepening of corporate bonds, commodity derivatives and effectiveness of the market system were discussed in detail. Functioning heads of stock exchanges, clearing corporations, depositories, the mutual fund industry, stock brokerage firms, merchant bankers and credit rating agencies participated in the meeting.