Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman interacted with the leaders of the financial & capital markets in Mumbai. She asked the industry leaders to explore ways to further strengthen the sector.

In her opening remarks, the Finance Minister expressed satisfaction about the resilience displayed by the financial markets even during the pandemic times.

Smt. Sitharaman urged the market participants to strive for efficiency and transparency to help to channelise the resource for productive investment in the most effective manner.

The Finance Minister emphasised that trust and confidence in the financial market are critical to gain traction amongst investors. Smt. Sitharaman also highlighted the important role of market participants in institution-building and for making 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.

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.

Market transparency urged to reinforce investor confidence and efficiency across KYC, mutual funds, corporate bonds and market infrastructure The Finance Minister urged enhanced market transparency, efficiency and trust to channel resources into productive investment, stressing investor confidence and institution building. She identified priorities including KYC norms, investor awareness, mutual fund penetration, corporate bond market deepening, commodity derivatives development and strengthening clearing, depository and exchange infrastructures.