SEBI Chairperson Madhabi Puri Buch Talks About Trust and Innovation at Global Fintech Fest in Mumbai
SEBI Chairperson Madhabi Puri Buch emphasized the importance of market regulation in fostering trust between consumers and companies at the Global Fintech Fest in Mumbai. She highlighted that compliance benefits both consumers and businesses, and that SEBI supports innovations that enhance consumer well-being.
Buch explained that SEBI’s principle is simple: if an innovation helps consumers, it is likely to get approval. However, if there is a lack of concern for investors’ money, the regulator will likely say no.
SEBI is working on standardizing file formats across platforms like BSE, NSE, and MCX to reduce integration costs for companies. Buch noted that this will lower costs and save time for market players.
Additionally, SEBI is using Artificial Intelligence to speed up regulatory processes and make compliance easier. Buch mentioned that SEBI received feedback from about 6,000 people on a recent consultation paper, thanks to technology that processes large amounts of feedback efficiently.
Doubts Revealed
SEBI -: SEBI stands for the Securities and Exchange Board of India. It is a government agency that regulates the stock market and protects investors in India.
Chairperson -: A Chairperson is the leader or head of an organization or a committee. In this case, Madhabi Puri Buch is the leader of SEBI.
Madhabi Puri Buch -: Madhabi Puri Buch is the current Chairperson of SEBI. She is responsible for overseeing the regulation of the stock market in India.
Global Fintech Fest -: The Global Fintech Fest is an event where people from around the world come together to talk about financial technology, which includes new ways to handle money using technology.
Mumbai -: Mumbai is a big city in India. It is known as the financial capital of the country because many important financial institutions are located there.
market regulation -: Market regulation means creating and enforcing rules to make sure that the stock market operates fairly and safely for everyone.
compliance -: Compliance means following the rules and regulations set by authorities like SEBI. It helps ensure that businesses operate fairly and transparently.
innovations -: Innovations are new ideas, methods, or products that make things better or more efficient. In this context, it refers to new ways to improve financial services.
standardize file formats -: Standardizing file formats means making sure that all files are in the same format so that they are easier to use and share, which can save time and money.
AI -: AI stands for Artificial Intelligence. It is a type of technology that allows computers to learn and make decisions on their own, like a smart robot.
