(a) whether his Ministry alongwith RBI, SEBI, DCB,
CLB are planning to simplify the grievance solution
process of small investors;
(b) if so, the details thereof;
(c) whether the multiplicity of regulatory bodies are causing problem to small investors;
(d) if so, the details thereof; and
(e) the details of the regulatory agencies to whom
the small investors have to approach to solve their
problems?
MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI BALASAHEB VIKHE PATIL)
(a), (b), (c), (d) & (e) The three regulatory agencies,
the Reserve Bank of India (RBI), the Department of
Company Affairs (DCA), and the Securities and
Exchange Board of India (SEBI) deal with the
following areas. RBI regulates the mobilization of
deposits by Non Banking Financial Companies (NBFCs)
while mobilization of deposits by companies other than
NBFCs is within the purview of DCA. SEBI is the
securities market regulator.
It is Government`s endeavour to simplify and
streamline procedures for redressing grievances of
investors. In this context Government constantly
reviews relevant Acts, rules and regulations.