At the Portfolio Managers’ Conclave in Mumbai on February 23, Securities and Exchange Board of India Chairman Tuhin Kanta Pandey outlined a strong and confident outlook for India’s financial future. He said the country is witnessing a historic transformation in wealth creation and continues to stand out globally for its growth momentum.
Pandey stated that “India remains among the fastest growing major economies,” and reaffirmed that the country “remains on the trajectory to becoming the world’s third largest economy.”
Changing profile of investors
He noted that this sustained expansion will reshape the domestic investor base. According to him, “this growth will also lead to an increase in the number of wealthy investors.” The rise in high-net-worth individuals is expected to alter demand patterns across financial markets.
Demand for advanced investment solutions
Pandey said this emerging investor segment is no longer satisfied with conventional options. These investors “seek professionally managed investment solutions” and prefer strategies that go “beyond standardised products.” The shift signals a growing appetite for customised and sophisticated offerings.
Regulatory reforms underway
To address evolving market needs, SEBI is “undertaking reviews of LODR, settlement, and PMS regulations.” The focus is on “rationalisation based on industry and investor feedback” to ensure that the regulatory framework remains contemporary and effective.
He added that while the “review of PMS regulations is driven by the need to rationalise certain aspects identified since 2020,” the exact “scope of the PMS regulation review is not yet finalised, as proposals are still maturing.” A “consultation paper will be released for public input on the proposed changes to PMS regulations.”
Use of AI for market oversight
On market stability and surveillance, Pandey said SEBI is exploring artificial intelligence for “real-time detection, rather than just reactive enforcement” of market irregularities.
SEBI–RBI collaboration on bond index
The Chairman also confirmed that SEBI and the Reserve Bank of India are jointly developing a corporate bond index and related products to be “traded on exchanges.” He noted that the initiative falls under both regulators due to exchange trading and aims to deepen the debt market.
Addressing industry concerns, he said SEBI will “examine the representations from brokers regarding RBI guidelines” on collateral and bank guarantees to ensure smoother proprietary trading.
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