Sebi chief Sinha meets Jaitley

Chairman of Capital market regulator Sebi, U K Sinha, today held discussions with Finance Minister Arun Jaitley, days ahead of the Union Budget.

Details about the meeting could not be immediately ascertained.

The Securities and Exchange Board of India (Sebi) had earlier presented its wish list for the upcoming Union Budget.

The watchdog has sought measures to further boost the country's mutual fund market and changes in existing tax structure in the capital market, among others.

Sebi has been pressing that there is a need for uniform tax treatment of retirement related investments irrespective of the investment routes - pension products launched by mutual funds or the retirement funds managed by the government's EPFO (Employees' Provident Fund Office).

To help channelise more funds for long-term investment purposes, Sebi has also suggested that the government allow PSUs to park their surplus cash in mutual funds.

The current norms permit only Navratna and Miniratna Central Public Sector Enterprises (CPSEs) to invest in public sector mutual funds.