Sebi to bear full project cost of Securities Markets Institute
(Mumbai, Sep 23) Market regulator Sebi has decided to bear the entire project cost of the National Institute of Securities Markets (NISM) being developed at Patalgana on the outskirts of the megapolis, which will be operational from December, its chairman U K Sinha said today.
"At some stage Sebi was considering whether it should seek funds from intermediaries and market to fund the cost of the NISM Campus. But a final view emerged that this could lead to conflict of interest. SEBI and NISM board has decided that the entire cost of the project would be funded by Sebi," Sinha told reporters after the NISM and Sebi board met here.
He said some large corporates have also offered to fund the chairs.
Considering the amount of data the market regulator and other intermediaries have, Sinha said the NISM may provide research data to private institutions, universities subject to certain conditions.
"Sebi and intermediaries have lots of data. So we have to see how this data can be used for policy making. We can have confidentiality agreements and provide data to private, research institution and any university subject to conditions," Sinha said.
"Going forward we will seek All-India Council for Technical Education (AICTE) recognition for one of our flagship programmes and then we will also get certification programmes equivalent to MBA," Sinha added.