GOVERNMENT TO INTRODUCE SINGLE SECURITIES MARKETS CODE

By Sarkaritel February 1, 2021 14:27

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By TN Ashok

New Delhi, Feb 01 2021: The Union Minister for Finance & Corporate Affairs, Smt. Nirmala Sitharaman announced that the Government will consolidate the provisions of SEBI Act, 1992, Depositories Act, 1996, Securities Contracts (Regulation) Act, 1956 and Government Securities act, 2007 into a rationalized single Securities Markets Code.

The Government will support the development of a world class Fin-Tech hub at the GIFT-IFSC.

In order to instill confidence amongst the participants in the Corporate Bond Market during times of stress and to generally enhance secondary market liquidity, Union Budget 2021-22 proposes to create a permanent institutional framework. The proposed body would purchase investment grade debt securities both in stressed and normal times and help in the development of the Bond Market.