Wednesday, June 23, 2010

Need to have simpler financial products: CB Bhave

Need to get incentive structure for financial products right, said CB Bhave, Chairman, Securities and Exchange Board of India (Sebi) at a Confederation of Indian Industries' Mutual Fund Summit 2011. He said the need of the hour is to have simplerfinancial products.

According to him, the government needs to examine the role of Association of Mutual Funds in India (AMFI) and Sebi. "AMFI must explore a self-regulatory role for the mutual fund industry. It can give a policy paper onmutual funds to Sebi, government."

He sees the need to address short-term money flows into mutual funds. "We feel the MF industry is becoming a shock absorber due to the short-term money."


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