 Mumbai:
The Securities and Exchange Board of India (SEBI) today
assured that the Indian financial markets were safe for
investing and there was no payment crisis.
"We
held a meeting this morning to review the settlement problem
and risk management. To our mind, there is no problem
in settlement," SEBI Chairman G N Bajpai said. SEBI
also ruled out the operation of any bear cartel in the
fall of the sensex yesterday. "Our data does not
state any market misconduct. If anyone is found guilty,
we will take action," he said. "The Indian financial
markets are very safe for investors, he added.
Bajpai
further said that domestic and overseas investors responded
to the market sentiments on political uncertainty over
reforms.
"We do not advise investors to invest or not to invest.
Our concern is how safe the markets are and we believe
there is nothing to worry about. The Indian financial
markets are very safe and sound," he said.
Bajpai
did not find any fault with the broking community and
said: "So far the data doesn't show any misconduct.
There is no settlement crisis."
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