SEBI Chairman: Small Towns to Drive Next Wave of Retail Broking
Why in the news
On 24 October 2026, SEBI Chairman Tuhin Kanta Pandey said the next wave of retail broking will come from towns and villages, not just big cities. He was speaking at the 16th International Capital Market Convention of the Association of NSE Members of India (ANMI).
Key facts
- Brokers as guides: Pandey said good brokers should advise clients, not merely execute orders, and described KYC as ‘Know Your Client’s Needs’.
- Wider products: He asked brokers to offer bonds, REITs and InvITs besides equity.
- Unregistered advice: Roughly six in ten investors rely on unregistered advisers and influencers.
- Cyber security: He called it a business priority rather than an IT cost, since one breach can hurt trust across the system.
- Growth outlook: He noted that the IMF expects India to grow about 7% this year, over twice the global rate.
| Indicator | Figure cited |
|---|---|
| Unique investors | Over 15 crore |
| Equity market capitalisation | About ₹470 lakh crore |
| Mutual fund AUM | About ₹83 lakh crore |
| FPI assets | About ₹74 lakh crore |
About the investor campaign and reforms
SEBI launched the ‘Samajh Se Investing Simple’ awareness campaign on 5 October. It has drawn over 15 crore social media views, and close to 110 crore WhatsApp messages have been sent. SEBI is also reviewing short selling and securities lending and borrowing, building a framework for secondary trading in corporate bonds, adding safeguards against misuse of trading terminals and exploring an AI sandbox.
Exam angle
- Remember the SEBI Chairman’s name: Tuhin Kanta Pandey.
- ANMI stands for Association of NSE Members of India.
- Key numbers: 15 crore investors, ₹470 lakh crore market cap, ₹83 lakh crore MF AUM.