Parliament finance panel calls Sebi, other regulators

After the Public Accounts Committee summoned Sebi chief Madhabi Puri Buch on Friday, the Parliamentary Standing Committee on Finance has also decided to hold discussions with her and other financial sector regulators.

This was decided at the first meeting of the parliamentary finance panel on Tuesday, which wasattended by 24 MPs who are its members and chaired by BJP MP Bhartruhari Mahtab. Former FM and senior Congress leader P Chidambaram is a part of the 31-member panel.

Besides the Sebi chief, the committee will also hold discussions with the respective heads of Reserve Bank of India, Competition Commission of India, Insurance Regulatory & Development Authority, Pension Fund Regulatory & Development Authority and Insolvency & Bankruptcy Board of India.

“All the six regulators functioning in the financial sector, including Sebi, have been called. We are not going into their job, but we will review the functioning of the regulators,” Mahtab told ET.

The parliamentary panel on finance will also hold deliberations on the demand for grants by the finance ministry.