state contributes to only 0.1 per cent of securities investment: Sebi
PANAJI: Despite Goa’s high GDP, the state contributes to only 0.1 per cent of securities investment in the country, an official from the Securities and Exchange Board of India (SEBI) said on Friday. Attributing the poor presence of Goans in the stock market to lack of financial intermediaries, the official said that, both men and women of the state need to come under the ambit of the capital market and become investors.
Treasa Kuriala, assistant general manager, SEBI, speaking at a financial inclusion seminar, said, “For inclusive development of capital markets more participation is needed from the common people.” To safeguards investors against frauds, she said that, they need to be educated on the way the markets function.
The seminar aimed at broad basing stock market participation from Tier II, Tier III cities. Organised by Mumbai based Metropolitan Stock Exchange of India, it urged participants to educate themselves on stock market investing so as to reduce the gender and geographical skew that exists in market participation.
Suresh Vishwanathan, an expert on securities market literacy and the chief guest at the seminar said, “Financial literacy is imperative in making educated investment decisions especially for retail investors.” He pointed out that, for people to participate in the stock market they need to understand the basic nuances of trading and risk-based investment.
The Goa financial inclusion seminar is a part of the Pan-India series by MSE. The exchange has so far conducted financial literacy drives in 11 locations across the country and in remote areas, under the guidance of SEBI.
Established in 2008, the MSE has 245 companies listed on it. The stock exchange trades in equities, futures and options, derivatives and debt instruments.