{"id":147312,"date":"2021-12-14T11:13:34","date_gmt":"2021-12-14T11:13:34","guid":{"rendered":"https:\/\/precoinnews.com\/?p=147312"},"modified":"2021-12-14T11:13:34","modified_gmt":"2021-12-14T11:13:34","slug":"mfs-are-a-very-good-story-we-want-to-nurture-it","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/business\/mfs-are-a-very-good-story-we-want-to-nurture-it\/","title":{"rendered":"&#8216;MFs are a very good story. We want to nurture it&#8217;"},"content":{"rendered":"<p><strong>&#8216;They have helped stabilise our market by acting as a counterbalance to foreign funds.&#8217;<\/strong><\/p>\n<p><strong>Ajay Tyagi<\/strong>&#8216;s four-year-and-nine-month stint as chairman of market watchdog Securities and Exchange Board of India has been largely successful.<\/p>\n<p>He helped the market ecosystem ride through the pandemic, oversaw record IPO mobilisation, brought technology advancement for crackdown on insider trading, and introduced a new risk-mitigation framework to protect millions of new investors entering the markets.<\/p>\n<p>In an exclusive interview with <strong>Samie Modak<\/strong>\/<em>Business Standard<\/em>, Tyagi shares his views on various issues concerning the markets.<\/p>\n<p>The second of a multi-part interview:<\/p>\n<ul>\n<li><strong>Part I:  &#8216;Sebi won&#8217;t interfere with IPO valuations&#8217;<\/strong><\/li>\n<\/ul>\n<p><strong>The deadline for separation of the chairman and MD post (of companies) is approaching. Will there be another extension?<\/strong><\/p>\n<p>Regulations on the subject were firmed up after considering an expert committee report and after due consultations and deliberations.<\/p>\n<p>Adequate time has already been given to the companies covered under this regulation.<\/p>\n<p>We urge them to comply before the deadline.<\/p>\n<p><strong>The mutual fund industry says Sebi has done excessive regulatory tightening?<\/strong><\/p>\n<p>Mutual funds are a very good story. We want to nurture it.<\/p>\n<p>Among other things, they have helped stabilise our market by acting as a counterbalance to foreign funds.<\/p>\n<p>The steps that we have taken will help the industry over the medium to long term.<\/p>\n<p>Today, the industry handles Rs 37 trillion of assets.<\/p>\n<p>Around 40 per cent are into open-ended debt funds where unit-holders could seek redemption (<em>any time<\/em>).<\/p>\n<p>However, the securities they are holding include corporate bonds.<\/p>\n<p>The market for corporate bonds in India has a problem of illiquidity.<\/p>\n<p>The MF business is all about trust and faith.<\/p>\n<p>To feel that any regulation aimed at investor protection is bad for the industry is not correct.<\/p>\n<p><strong>Sebi has also made the broking industry pop a lot of bitter pills&#8230;<\/strong><\/p>\n<p>Some of the regulatory changes that we have done are in the areas of share pledging, margin norms, and segregation of client collateral.<\/p>\n<p>All the new rules are logical.<\/p>\n<p>I don&#8217;t see how anyone can complain.<\/p>\n<p>They have made the system more robust; chances of people getting cheated have reduced and volumes have improved.<\/p>\n<p><strong>Would you like to give us an update on the NSE&#8217;s IPO?<\/strong><\/p>\n<p>I will not comment on case-specific issues.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/im.rediff.com\/money\/2018\/mar\/01ajay-tyagi.jpg?w=670&#038;h=900\"><\/p>\n<p><strong>There is some criticism over how Sebi uses social media to establish insider trading&#8230;<\/strong><\/p>\n<p>We have started using a lot of technological tools, such as big data, artificial intelligence, and machine learning.<\/p>\n<p>Our ambition is to use them more. As the market develops, unethical people will use all types of different tricks, and as regulators, we have to stay one step ahead.<\/p>\n<p>When it comes to insider trading, the critical part is establishing a link between the tipper and the tippee.<\/p>\n<p>You come across cases where someone, who has never traded in the past, suddenly gets lucky and starts making a lot of money.<\/p>\n<p>Our surveillance department analyses such behaviour.<\/p>\n<p>We then try to find links. For that, we may also make use of social media platforms.<\/p>\n<p>I think there is nothing wrong with analysing or depending on that.<\/p>\n<p>In insider trading cases, it will never be that someone will give in writing to the other party that this is the information, let&#8217;s use it.<\/p>\n<p><strong>Is this a big menace?<\/strong><\/p>\n<p>I don&#8217;t know to what extent but let me say among all the violations, we treat insider trading as the most serious one.<\/p>\n<p>It goes against the very basics of trust in the securities market.<\/p>\n<p>With all these millions of new investors entering the market, this trust of investors needs to be maintained.<\/p>\n<p><strong>Feature Presentation: Aslam Hunani\/<em>Rediff.com<\/em><\/strong><\/p>\n<p>Source: <a href=\"https:\/\/www.rediff.com\/business\/interview\/sebi-chairman-ajay-tyagi-mfs-are-a-very-good-story-we-want-to-nurture-it\/20211213.htm\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8216;They have helped stabilise our market by<\/p>\n","protected":false},"author":3,"featured_media":147311,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23051],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>&#039;MFs are a very good story. We want to nurture it&#039; - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/business\/mfs-are-a-very-good-story-we-want-to-nurture-it\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"&#039;MFs are a very good story. We want to nurture it&#039; - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"&#8216;They have helped stabilise our market by\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/business\/mfs-are-a-very-good-story-we-want-to-nurture-it\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-12-14T11:13:34+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/12\/MFs-are-a-very-good-story.-We-want-to-nurture-it.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/business\/mfs-are-a-very-good-story-we-want-to-nurture-it\/\",\"url\":\"https:\/\/precoinnews.com\/business\/mfs-are-a-very-good-story-we-want-to-nurture-it\/\",\"name\":\"'MFs are a very good story. We want to nurture it' - Pre Coin News\",\"isPartOf\":{\"@id\":\"https:\/\/precoinnews.com\/#website\"},\"datePublished\":\"2021-12-14T11:13:34+00:00\",\"dateModified\":\"2021-12-14T11:13:34+00:00\",\"author\":{\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\"},\"breadcrumb\":{\"@id\":\"https:\/\/precoinnews.com\/business\/mfs-are-a-very-good-story-we-want-to-nurture-it\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/precoinnews.com\/business\/mfs-are-a-very-good-story-we-want-to-nurture-it\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/precoinnews.com\/business\/mfs-are-a-very-good-story-we-want-to-nurture-it\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/precoinnews.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Business\",\"item\":\"https:\/\/precoinnews.com\/category\/business\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"&#8216;MFs are a very good story. We want to nurture it&#8217;\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/precoinnews.com\/#website\",\"url\":\"https:\/\/precoinnews.com\/\",\"name\":\"Pre Coin News\",\"description\":\"precoinnews.com\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/precoinnews.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\",\"name\":\"mediabest\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g\",\"caption\":\"mediabest\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"'MFs are a very good story. We want to nurture it' - Pre Coin News","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/precoinnews.com\/business\/mfs-are-a-very-good-story-we-want-to-nurture-it\/","og_locale":"en_US","og_type":"article","og_title":"'MFs are a very good story. We want to nurture it' - Pre Coin News","og_description":"&#8216;They have helped stabilise our market by","og_url":"https:\/\/precoinnews.com\/business\/mfs-are-a-very-good-story-we-want-to-nurture-it\/","og_site_name":"Pre Coin News","article_published_time":"2021-12-14T11:13:34+00:00","author":"mediabest","twitter_card":"summary_large_image","twitter_image":"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/12\/MFs-are-a-very-good-story.-We-want-to-nurture-it.jpg","twitter_misc":{"Written by":"mediabest","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/precoinnews.com\/business\/mfs-are-a-very-good-story-we-want-to-nurture-it\/","url":"https:\/\/precoinnews.com\/business\/mfs-are-a-very-good-story-we-want-to-nurture-it\/","name":"'MFs are a very good story. We want to nurture it' - Pre Coin News","isPartOf":{"@id":"https:\/\/precoinnews.com\/#website"},"datePublished":"2021-12-14T11:13:34+00:00","dateModified":"2021-12-14T11:13:34+00:00","author":{"@id":"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a"},"breadcrumb":{"@id":"https:\/\/precoinnews.com\/business\/mfs-are-a-very-good-story-we-want-to-nurture-it\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/precoinnews.com\/business\/mfs-are-a-very-good-story-we-want-to-nurture-it\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/precoinnews.com\/business\/mfs-are-a-very-good-story-we-want-to-nurture-it\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/precoinnews.com\/"},{"@type":"ListItem","position":2,"name":"Business","item":"https:\/\/precoinnews.com\/category\/business\/"},{"@type":"ListItem","position":3,"name":"&#8216;MFs are a very good story. We want to nurture it&#8217;"}]},{"@type":"WebSite","@id":"https:\/\/precoinnews.com\/#website","url":"https:\/\/precoinnews.com\/","name":"Pre Coin News","description":"precoinnews.com","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/precoinnews.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a","name":"mediabest","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/precoinnews.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g","caption":"mediabest"}}]}},"_links":{"self":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts\/147312"}],"collection":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/comments?post=147312"}],"version-history":[{"count":0,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts\/147312\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/media\/147311"}],"wp:attachment":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/media?parent=147312"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/categories?post=147312"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/tags?post=147312"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}