Trust, confidence in financial markets critical to gain traction among investors: Finance Minister Nirmala Sitharaman
Finance Minister Nirmala Sitharaman on Monday emphasised that trust and confidence in the financial markets are critical to gain traction among investors.
During an interaction with leaders of the financial and capital markets here, Sitharaman also asked them to explore ways to further strengthen the sector, according to an official release.
The finance minister is interacting with various stakeholders as part of her two-day post-Budget outreach programme being held in the country’s financial capital, starting Monday.
“Trust and confidence in the financial market are critical to gain traction amongst investors,” Sitharaman said.
She highlighted the important role of market participants in institution-building and for making the financial market stronger and investor-friendly, the release said.
Sitharaman urged the market participants to strive for efficiency and transparency to help to channelise resources for productive investment in the most effective manner.
She also expressed satisfaction about the resilience displayed by the financial markets even during the pandemic times.
During the interactions, 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 discussed in detail.
The participants in the meeting included heads of the stock exchanges, clearing corporations, depositories, mutual fund industry, stock brokerage firms, merchant bankers and credit rating agencies.
Earlier in the day, Sitharaman interacted with industry leaders, large taxpayers and professionals.