'Have faith in stock market regulatory framework'

Prime Minister Manmohan Singh said that the country had an effective stock market regulatory framework in place.

Prime Minister Manmohan Singh said on Wednesday that the country had an effective stock market regulatory framework in place.

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"The country should have confidence in the system," the Prime Minister told a press conference at the Vigyan Bhavan in New Delhi.

The bull wave in the Indian capital markets in recent months was pushing stocks to historic highs, raising fears of irregularities driving the prices.

"India has a (stock market) regulatory framework that is widely appreciated around the world," Singh said in reply to a question on the regulatory checks on the bull market.