Government to Introduce Unified Securities Markets Code for Proper Regulation

The Indian government is finalizing the Unified Securities Markets Code (SMC) to consolidate four key laws— the SEBI Act, 1992; Depositories Act, 1996; Securities Contracts (Regulation) Act, 1956; and the Government Securities Act, 2007. 

The SMC, proposed in the FY22 budget, aims to simplify compliance, reduce regulatory overlap, and modernize India's securities market.

The draft, incorporating SEBI's recommendations, is under final review by the law ministry, and Cabinet approval is expected soon. 

By creating a unified framework, the SMC seeks to enhance market efficiency, reduce costs, and attract domestic and global investors. It could become operational by 2025.