Bhubaneswar: The Securities and Exchange Board of India will soon establish a branch office in Bhubaneswar, with plans to later develop a permanent facility in the city, according to SEBI Chairman Tuhin Kanta Pandey.
The announcement is being viewed as a significant step towards strengthening capital market presence and financial sector outreach in Odisha.
During his remarks, Pandey encouraged the Odisha government and urban local bodies to explore the use of municipal bonds as a financing mechanism for urban infrastructure and development projects. He highlighted that several other states have successfully utilised municipal bonds to raise funds for civic infrastructure, with additional incentives being provided by the central government.
Municipal bonds are debt instruments issued by urban local bodies to finance public infrastructure projects such as roads, water supply systems, drainage, sanitation and urban transport. Experts believe wider adoption of such instruments could strengthen long-term urban financing capacity in emerging cities.
The SEBI Chairman also pointed to the rapid expansion of India’s mutual fund and capital market sectors over recent years. He urged Odisha to increase its participation and contribution to the mutual fund industry by expanding investor awareness and strengthening financial market engagement across the state.
Officials believe the establishment of a SEBI office in Bhubaneswar could improve regulatory accessibility, investor outreach and capital market development activities in eastern India.
-OdishaAge
