Sebi Chairman Pandey: Vision Needed, Not Just Regulation

Mumbai, Apr 25 (PTI) Sebi chairman Tuhin Kanta Pandey on Saturday said the coming years will demand not just regulation, but also vision.

There will be a greater need for insight, more than oversight, as well, he said.

"The coming years will demand not just regulation, but vision. Not just oversight, but insight. And not just individual effort, but collective commitment," Pandey said on Saturday as the regulator marked its 38th foundation day.

Going forward, Sebi will focus on rationalising regulations, strengthening governance and risk management frameworks, and investing in technology-led oversight, he said.

Pandey also called on market participants to go beyond compliance and uphold fairness, integrity and innovation, while urging investors to remain informed and responsible.


Pandey said India's securities market has demonstrated resilience despite global uncertainties, aided by sustained institution-building, sound regulation and strong market frameworks.

He said the market today reflects growing investor confidence, with over 5,900 listed companies and more than 140 million unique investors.

Over the past decade, market capitalisation has expanded at around 15 per cent annually, while mutual fund assets have grown at over 20 per cent, he added.

Highlighting the transformation from open outcry systems to technology-driven platforms, Pandey said reforms such as dematerialisation, rolling settlements, enhanced corporate governance and robust risk management have strengthened the ecosystem.

He emphasised that with increasing dynamism in markets, it is important to ensure that innovation does not outpace safeguards and that growth remains sustainable with adequate investor awareness.

The Sebi chief said the regulator has undertaken wide-ranging reforms in the past year to simplify regulations, remove ambiguities and improve ease of doing business, along with measures to enhance investor protection.