Government spends over Rs 12 cr in 3yrs on investor awareness

Government of India has said that its prime focus has been investor awareness and protection activities and it has spent Rs 12.75 crore over past three fiscal years on it.

According to the reports, Ministry of Corporate Affairs had spent Rs 4.98 crore in 2011-12, Rs 4.35 crore and Rs 3.42 crore was incurred in 2010-11 and 2009-10 on investor protection activities.

In a written reply to Lok Sabha, Sachin Pilot, Corporate Affairs Minister said, "Investor awareness programmes are conducted by the Ministry of Corporate Affairs in association with the three professional institutes, namely, Institute of Chartered Accountants of India, Institute of Company Secretaries of India and Institute of Cost Accountants of India."

Additionally, he said the investors can also lodge their complaints/grievances in electronic form on the MCA-21 portal.

"A similar facility has also been provided by Securities and Exchange Board of India ( Sebi) on their website. Reserve Bank of India in association with banking codes and standards Board of India, carries out Outreach Programmes and Town Hall Events to educate its customers and create awareness on various banking activities," Pilot said.

Read more about: investor awareness
Story first published: Friday, March 22, 2013, 13:30 [IST]
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