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Sebi draws flak from DPAI for 'fuelling rumours'

V D Aggarwal, president of Depository Participants Association of India on Thursday advised the Securities and Exchange Board of India to desist from ''spreading unwarranted rumours'' through the press in order to infuse confidence in the investor.

''In fact Sebi should be out of the press and concentrate more on meaningful regulatory aspect of the business instead of creating unwarranted rumours which demoralise the market player and create further unwarranted panic in the minds of the investors whose morals are anyway low at the moment," Aggarwal said in a pressnote.

Half-baked information only spoils the sentiments further in such a volatile market.

Also, Sebi has reportedly been blaming squarely the entire broker community for the market crash whereas only a handful of unscrupulous market players in the garb of brokers were involved, Aggarwal claimed.

UNI

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