(a) whether SEBI has taken any decision to corporatisation
of stock exchanges;
(b) if so, the details thereof;
(c) whether the Government propose to amend
the pricing norms for open offers for Public
Sector Undertakings; and
(d) if so, the details thereof?
MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI BALASAHEB VIKHE PATIL)
(a) to (b): With a view to improving institutional mechanisms
and trading practices in the stock markets,
Government proposes to demutualise all stock exchanges, by
which ownership, management and trading membership would
be segregated from each other. This would help towards :
-· further professionalisation of the management of the exchanges and elimination of conflict of interests;
-· improving adherence to the best practices of Corporate Governance;
-· enhancing the ability of stock exchanges to raise funds from the market to modernise the exchanges and provide better investor service.