Rs 14,131.6 cr recovered from sale of Vijay Mallya’s assets: Sitharaman
The Finance Minister informed the Lok Sabha that the Enforcement Directorate (ED) has been successful in recovering assets from several high-profile economic offenders.
Union Minister for Finance & Corporate Affairs Nirmala Sitharaman interacted with the leaders of the financial & capital markets in Mumbai today. She asked the industry leaders to explore ways to further strengthen the sector.
The Finance Minister expressed satisfaction about the resilience displayed by the financial markets even during pandemic times.
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Nirmala urged the market participants to strive for efficiency and transparency to help to channelise the resource for productive investment in the most effective manner.
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The Finance Minister emphasised that trust and confidence in the financial market are critical to gaining traction amongst investors. Nirmala also highlighted the important role of market participants in institution-building and for making the financial market stronger and investor-friendly.
Various ideas and suggestions related to investor awareness, KYC norms, mutual fund penetration, deepening of corporate bonds, commodity derivatives, and the effectiveness of the market system were also discussed in detail.
Among the participants were the functioning heads of the stock exchanges, clearing corporations, depositories, mutual fund industry, stock brokerage firms, merchant bankers, and credit rating agencies.
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