"A separate trading platform to facilitate SMEs will become a reality soon. We hope this to happen in the next two-three days," N S Sisodia, financial sector secretary, said at IRADe-IIEF conference in New Delhi.
Small companies will get an opportunity to trade their shares in a separate segment within the Bombay Stock Exchange under the banner 'Indonext'.
On the insurance sector, Sisodia said the government would address the previous budget announcement of hiking the FDI limit from 26 to 49 per cent in the coming budget.
"This will be an important development if such an amendment is passed in the Parliament." The reforms should aim to bring professionalism in the insurance sector, he said.
The government is promoting Institute of Actuaries of India and a bill in this regard will be introduced shortly. On the establishment of PFRDA, he said the architecture of PFRDA was being readied and the whole system would be in place in a few weeks' time.
After the withdrawal of development finance institutions from long-term financing, a void has been created, he said, adding long-term projects finance was not easily available though Scheduled Commercial Banks have come in.
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