Make FII data public: IGF

The Investors8217; Grievances Forum IGF on Thursday came down strongly on Sebi and the finance ministry for lack of transparency in FIIs....

Mumbai | January 28, 2005 12:00 AM IST

1 min read

The Investors8217; Grievances Forum IGF on Thursday came down strongly on Sebi and the finance ministry for lack of transparency in FIIs.

8220;While we welcome foreign investment, there is a need to disclose the total investment by FIIs on a daily and weekly basis,8221; IGF President Kirit Somaiya said.

His statement comes in the wake of strong FII inflows 8212; 8.50 billion in 2004 8212; rocking the market in the last few months. Somaiya further demanded the regulators to work on a process, which will help investors to know FII investments in terms of direct investments, sub-account route and participatory note route.

Somaiya stated, 8216;8216;The regulators should ensure that any capital coming from outside India should be from countries, which have regulatory framework.8217;8217; 8212;ENS