India to allow SEBI to monitor call records of suspect investors

NEW DELHI (Reuters) - The cabinet on Wednesday approved issuing an executive order that would allow India's market regulator to monitor call data records of investors and conduct searches at companies suspected of wrongdoing.

The Securities and Exchange Board of India (SEBI) will also be allowed to regulate 'chit fund' schemes, Praful Patel, a minister in the federal cabinet, told reporters. (Reporting by Nigam Prusty; Editing by Sunil Nair)