Norms To Regulate Short-Selling Soon

The indication came during Chidambaram's first visit to the Sebi head office in the city. He spent more than three hours with the Sebi brass to understand the functioning of the market regulator and respond to its needs.

Later, he told newspersons that he discussed wide-ranging issues. Any significant policy decisions will be announced only after he speaks to the finance secretary Montek Singh Ahluwalia and advisor Jairam Ramesh later in the day, he said. "I have received a full and thorough presentation from Sebi. We discussed the present state of affairs in the capital market. The Sebi board will meet on November 18 and discuss a series of issues which include the finalisation of mutual fund regulations and venture capital funds, he said.

 

``Short-selling will also come up for discussion and concrete steps will be taken with regard to short-selling. Stock-lending will also come up for discussion," the finance minister said. He added that the board will take up the OTCEI Dave committee report in the meeting.

Sebi chairman D R Mehta, speaking to newspersons after Chidambaram left for his meeting with bankers, said that the meeting with the minister was excellent.