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Govt, Sebi spar over transfer of surplus funds as Budget 2020 nears

In 2009, FinMin proposed to move regulators' reserves into public account. These accounts were finally opened in 2013-14. However, no funds have been deposited in it so far

Ajay Tyagi, Chairman, Sebi at the FICCI's 16th Annual Capital Market Conference – CAPAM 2019’ in Mumbai. Photo: Kamlesh Pednekar
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Ajay Tyagi, Chairman, Sebi at the FICCI's 16th Annual Capital Market Conference – CAPAM 2019’ in Mumbai. Photo: Kamlesh Pednekar

Shrimi Choudhary New Delhi
The stand-off between the Securities and Exchange Board of India (Sebi) and the Central government over transferring the former’s surplus funds to the exchequer is likely to linger.
 
Ahead of the Budget, the Centre, which is eyeing these resources to reduce its fiscal deficit, recently sought a status report from Sebi, the market regulator. The government wants to decide on the plan of the surplus transfer in line with the new rule.
 
“The departments concerned in the finance ministry recently sought details from the market regulator about the reserves to systemise its income and expenses and accordingly make

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First Published: Dec 28 2019 | 2:02 AM IST

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