NISM is conducting a Training Programme on the Role of RBI & SEBI and an Overview of Securities Markets for the participants of PGDM [Financial Management] of Arun Jaitley National Institute of Financial Markets (AJNIFM), Faridabad, during September 12-16, 2022. The inaugural function of the Programme was held on Monday September 12, 2022. 

Dr. Ranjith Krishnan, Head, Academic Programme Unit welcomed the Participants and Dr. CKG Nair, Director, NISM, who inaugurated the Programme.

Dr. CKG Nair, Director, NISM, during his inaugural address spoke about diverse perspectives of financial market regulation. He gave an overview of the role of various regulators in the financial sector. He explained the architecture of financial markets regulation; FSDC, RBI, IRDA, PFRDA and elaborated on the important role being performed by SEBI and the Market Infrastructure Institutions. Regulatory Authorities blur the separation of powers principle since they make Regulations [subordinate legislation], pass Quasi-Judicial Orders against violators and administer the provisions of the mandated Acts and Regulations. In that sense Regulators are like ‘mini States’. As further reading material he suggested the Reports of the Percy Mistry Committee [Making Mumbai a Global Financial Centre], Rajan Committee [A Hundred Small Steps] and Justice Srikrishna Commission [Financial Sector Legislative Reforms Commission].

34 Participants of this Course are all senior/middle level Officers from the Defence Services and Civil Services having long and diversified experience. Experts from SEBI, RBI and other professionals having wide experience in the banking and securities market will be addressing the participants in the coming days. Visits to SEBI, Stock Exchanges and Depositories are also part of their schedule; which will give them valuable practical exposure.

Mr. Susanta Das, GM, SEBI and a NISM Faculty proposed the vote of thanks.