MARKET CAP of BSE-listed companies hit a high of $5 trillion (₹414 lakh crore) on May 21, 2024. If the Securities and Exchange Board of India (Sebi) oversees this mammoth stock market ecosystem, the one overseeing Sebi is Madhabi Puri Buch, the only woman to lead any financial regulator in India.
Buch’s tenure, which began in March 2022, has been full of landmarks and ‘speeding up’ things. In March, Sebi introduced the T+0 settlement cycle — settlement of trades on the same day, reducing transactional risks and providing liquidity to investors.
Similarly, beginning December 1, 2023, companies launching IPOs have to get their shares listed within three days from the closure of the issue instead of six days earlier. This will help companies raise capital at a faster pace, and investors can start trading at the earliest.
In another move, Sebi is also set to introduce a new asset class targeted at HNIs. This will benefit investors looking beyond equity MFs and fixed-income products. — Rashmi Pratap