Sebi invites proposals for development research group study

New Delhi: Markets regulator Sebi on Thursday invited proposals for its development research group study series which is aimed at undertaking policy-oriented research studies.

So far, Sebi has completed development research group (DRG) study series I and II and has now invited proposals for the third study in this series, from researchers of all nationalities. In a particular year, there would be two six-monthly blocks-- January-June and July-December-- for submission of proposals under DRG-III. For the January-June block, the last date would be June 30 and for the July-December period, the deadline is December 31, as per the notification.

The research undertaken under DRG-III will be of two types-- academic style and short duration projects. Each DRG Study will carry an all-inclusive award of Rs 3.5 lakh. "Through DRG Study Series, SEBI intends to encourage the external experts to contribute to policy making through research on topics of their own choice subject to the condition that the topics are of relevance to SEBI," the regulator said.

Sebi has prescribed timelines that the DRG Studies need to adhere to after the proposal acceptance by SEBI. For the submission of proposals, Sebi has also provided a format. Sebi will constitute a Development Research Advisory Committee (DRAC) for screening the proposals and recommending the relevant ones for acceptance. The committee will also recommend to Sebi the completed DRG study for acceptance.

The DRAC will consist of two internal members and two external members who have proven expertise in the area of financial economics. "The Indian securities market is on the cusp of emerging as the major source of finance as well as an attractive investment destination for all categories of investors at a time when India is moving ahead to be a global economic powerhouse. In this context, the products and the processes are in dynamic evolution," Sebi said.