{"id":86147,"date":"2019-07-20T16:00:24","date_gmt":"2019-07-20T10:30:24","guid":{"rendered":"http:\/\/factly.forumias.com\/?p=8244"},"modified":"2019-07-20T16:00:24","modified_gmt":"2019-07-20T10:30:24","slug":"centre-rejects-sebi-plea-to-amend-provision-for-transferring-reserves","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/centre-rejects-sebi-plea-to-amend-provision-for-transferring-reserves\/","title":{"rendered":"Centre rejects SEBI plea to amend provision for transferring reserves"},"content":{"rendered":"\n<ol class=\"wp-block-list\"><li>The Finance Ministry has refused to accept the request from the Securities and Exchange Board of India(SEBI) to amend the provision that mandates transferring 75% of the market regulator\u2019s surplus funds to the central government.<\/li><li>SEBI had written to the government seeking a review of the Budget proposal that mandates transferring 75% of the market regulator\u2019s surplus funds to the central government<\/li><li>SEBI said that the proposal would result in compromising its autonomy and its ability to function effectively towards the progress and development of the Indian securities market.<\/li><li>The Finance Bill,2019 has proposed a 75% cash transfer from the Sebi\u2019s general fund to the Central government after creating a \u2018reserve fund\u2019 of the annual surplus.The transfer is proposed to take place after SEBI incurs all expenses mandated under the law establishing it.<\/li><li>The <strong>Securities and Exchange Board of India(SEBI) <\/strong>is the regulator for the securities market in India.It was established in 1988 and given statutory powers in 1992 through the SEBI Act,1992.<\/li><li>The <strong>Finance Bill <\/strong>is a money bill.This means that once passed by the Lok Sabha,it can become law unchanged even if the Rajya Sabha proposes to amend it.In effect,passing the Finance Bill in the Lok Sabha means that the government has chosen to ignore SEBI\u2019s concerns.<\/li><\/ol>\n","protected":false},"excerpt":{"rendered":"<p>The Finance Ministry has refused to accept the request from the Securities and Exchange Board of India(SEBI) to amend the provision that mandates transferring 75% of the market regulator\u2019s surplus funds to the central government. SEBI had written to the government seeking a review of the Budget proposal that mandates transferring 75% of the market&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/centre-rejects-sebi-plea-to-amend-provision-for-transferring-reserves\/\">Continue reading <span class=\"screen-reader-text\">Centre rejects SEBI plea to amend provision for transferring reserves<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3127],"tags":[3662,3327,3555,3199],"class_list":["post-86147","post","type-post","status-publish","format-standard","hentry","category-economy","tag-finance-bill","tag-government","tag-reserves","tag-sebi","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704739149},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/86147","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=86147"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/86147\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=86147"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=86147"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=86147"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}