Sebi opens local office in Vijayawada

Capital markets regulator Sebi on Saturday opened a local office here as part of its objective to enhance its physical proximity to investors and intermediaries.

The new office in Vijayawada will have jurisdiction over the entire state of Andhra Pradesh. The regulator already has a local office in neighbouring state Telangana's capital Hyderabad, which was earlier capital of the undivided Andhra Pradesh.

Announcing the inauguration of the new office, the Securities and Exchange Board of India (Sebi) said in a statement the functions of Vijayawada office would include facilitating the redressal of investor grievances against listed companies and securities market intermediaries, as also to spread investor education and financial literacy in the state.

Besides its headquarters in Mumbai, Sebi has regional offices at New Delhi, Chennai, Kolkata and Ahmedabad. It also has local offices in Bengaluru, Kochi, Guwahati, Bhubaneswar, Patna, Ranchi, Chandigarh, Lucknow, Dehradun, Jaipur, Indore, Raipur, Panaji, Shimla and Jammu.

Sebi has been opening local offices in various parts of the country as part of its efforts to promote a balanced pan-India securities market and in order to enhance its physical proximity to the investors and intermediaries.

The new local office, which will be under the administrative control and jurisdiction of Sebi's Southern Regional Office in Chennai, was inaugurated by the regulator's Whole Time Member S K Mohanty in presence of its Executive Directors S Ravindran and SVMD Rao.