Govt roadshows to aid retail investor
The government wants to empower small investors, in order to protect their interests, reports Mahua Venkatesh.business Updated: Apr 13, 2010 21:36 IST
The government wants to empower small investors, in order to protect their interests.
With increasing volatility in the stock market, the government wants the small investors to be armed with the required knowledge as retail participation rises.
Salman Khurshid, corporate affairs minister, said hat the government would work towards providing the necessary knowledge to these investors as their protection and participation was key for the economy.
The government, along with the Institute of Chartered Accountants of India (ICAI), has decided to hold more than 200 awareness sessions in various locations of the country during the year.
“We would hold 200 awareness programmes in the current fiscal and the programmes would be structured in a manner that helps the investors to understand their rights,” Amarjit Chopra, president, ICAI told Hindustan Times.
The institute is likely hold 150 such sessions in 2011-12 as well.
Chopra said the campaigns would be held at all the major metros though the finer details are yet to be worked out. “We will cover all the five metros and also other bigger towns where ICAI has a branch,” Chopra said.
The move assumes significance especially after the Rs 7000 crore Satyam fraud came into light in January last year after its founder B Ramalinga Raju confessed of doctoring the books of the IT firm. Besides, the Wadhwa Committee report has highlighted irregularities in the 21 initial public offers (IPO) that were launched between 2003 and 2005 and the worst affected have been the small retail investors.