Recent external comments attempt to undermine SEBI Chairperson Madhabi Buch’s contribution to Indian capital market: AMFI
FinTech BizNews Service
Mumbai, August 11, 2024: The Association of Mutual Funds in India (AMFI) has today come out in strong support of SEBI Chairperson Madhabi Buch, Indian economy and market ecosystem with regard to the Hindenburg Research’s Report dated August 10, 2024. The AMFI's statement is in support of India's robust and growing economy and regulatory mechanism.
The AMFI's statement, issued on Sunday, reads as follows:
As India continues its journey towards becoming 'Viksit Bharat'—a developed nation—our economy stands as a testament to resilience, innovation, and sustainable growth. The robust performance of our markets and the strength of our financial sector reflect a well-regulated environment that prioritizes investor protection and adherence to global best practices.
India has built a regulatory framework that not only aligns with global best practices & standards but also ensures the protection and confidence of the smallest of investors. The success of our markets, coupled with the evolved understanding and participation of our investors, underscores the credibility and effectiveness of this system. Over a period, the regulator has created a well-functioning market trusted by both local and global investors with several measures taken under the current leadership of SEBI Chairperson.
Mutual Funds have witnessed phenomenal growth in the Indian Financial ecosystem. The regulator took the lead to ensure that the product is in the interest of the investor. The changes have made the product the most transparent and a highly effective product for the customer. This has been the key reason for the strong growth of the Mutual Fund industry with wider retail participation.
Recent external comments on the Regulator Chairperson not only attempt to undermine the Chairperson Mrs Madhabi Buch’s contribution to the Indian capital market, but it also undermines our country’s economic progress and creating a trust deficit in the market ecosystem must be seen for what they truly are - attempts to create sensation by connecting random events done in the past. Left unchecked, it can create unnecessary hurdles in the path of the world’s fastest-growing economy. These statements, lacking in context and understanding of our regulatory environment, seek to malign the hard-earned achievements of our nation. Such advances must be viewed as creating a hurdle in India's endeavour to becoming a developed economy. Investors and partners, both domestic and international, must be rest assured that India's financial system is secure, transparent, and designed to foster growth and innovation with high integrity driven right from the top of the institution.
India's future is bright, and our market structure is strong. We encourage our stakeholders to remain confident and continue to be part of this extraordinary growth story.
