Addressing the Sebi board, Jaitley also said the passage of new Aadhar law would help in expanding investor base in securities market via KYC (Know Your Client) simplification by greater use of technology.
Ahead of an important board meeting, where Sebi decided to choke fund-raising avenues for wilful defaulters among other key decisions, Jaitley also appreciated the emergence of mutual funds in the country as a 'counter-balance' to foreign portfolio investors.
In his customary post-Budget meeting with Sebi, Jaitley interacted with the board members and other senior officials of the market regulatory authority. The meeting was also attended by Minister of State for Finance Jayant Sinha and other top officials of Finance Ministry.
Talking to reporters later, the Securities and Exchange Board of India (Sebi) Chairman U K Sinha said Jaitley was apprised of the major recent trends and the emerging external risks in the securities market.
Jaitley advised "Sebi to remain alert on the supervision of markets keeping in mind the impact of global developments". He also underlined the need for new products in the commodity derivatives segment and encouraging actual hedgers to take benefits of this market. Sebi began regulating
commodities markets late last year after the merger of the erstwhile Forward Markets Commission with it.


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