Union Minister for Finance and Corporate Affairs Nirmala Sitharaman on Monday interacted with the leaders of the financial and capital markets and urged them to explore ways to further strengthen the sector.
In her opening remarks at the meeting, the Finance Minister expressed satisfaction about the resilience displayed by the financial markets during the COVID pandemic times.
Sitharaman urged the market participants to strive for efficiency and transparency to help to channelise the resources for productive investment in the most effective manner, according to a statement released by the Finance Ministry.
The Finance Minister emphasised that trust and confidence in the financial market are critical to gain traction amongst investors. She also highlighted the important role of market participants in institution-building and for making the financial market stronger and investor-friendly.
"Various 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 also discussed in detail," the Finance Ministry said.
Among the participants were the functioning heads of the stock exchanges, clearing corporations, depositories, mutual fund industry, stock brokerage firms, merchant bankers and credit rating agencies, it added.
( With inputs from ANI )
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