20-member “Usha Thorat Committee” formed

On July 10, 2020, 20-member advisory committee under the leadership of former deputy governor of Reserve of Bank of India, Usha Thorat was formed.

Highlights

The Securities and Exchange Board of India revamped its committee that advises capital market regulator on matters of development of mutual fund. The committee will advise the regulator on measures required for a change in legal framework to introduce transparency and simplification in mutual fund regulations.

SEBI

SEBI is a regulator of securities and commodity market in India. It is a statutory body constituted under SEBI Act, 1992. The main function of SEBI is to protect the interests of investors in securities, to regulate securities market and to promote development of security market.

The three main responsibilities of SEBI include quasi-judicial, quasi-legislative and executive. It delivers its work through its committees. They are Technical Advisory Committee, Advisory Committee for SEBI investor protection and education fund, corporate bonds and security advisory committee, mutual fund advisory committee, primary market advisory committee, takeover regulations advisory committee, etc.

Month: Current Affairs - July, 2020