A webinar on Issues facing small investors and what can they hope for from Budget 2022-23 was be held virtually on Friday, January 21, 2022 with Mr Nilesh Shah, Managing Director, Kotak Mahindra Asset Management Co. Ltd and Mr N S Venkatesh, Chief Executive, Association of Mutual Funds in India. The discussion was moderated by Ms Mythili Bhusnurmath, Senior Adviser, NCAER. The webinar is part of the Investor Education and Protection Fund (IEPF) monthly webinar series. NCAER established the IEPF Chair Unit in 2020, with funding from the Investor Education and Protection Fund Authority, Ministry of Corporate Affairs. NCAER’s IEPF Chair Unit conducts research on contemporary issues related to investor education and protection, and an analysis of related economic, legal and regulatory issues. More information on NCAER’s IEPF Chair Unit is available here.
With the Union Budget 2022-23 fast approaching, wish-lists from stakeholders have started pouring in. India’s small investors are important stakeholders, who have contributed towards a baffling growth story of the stock market, despite the pandemic’s adverse impact on the economy. Although some experts are wary of this bull run, retail investors may want to stay put expecting greater returns from the market. However, some of the moot questions are: What are the challenges small investors are facing? And what are their expectations from the government? Hence, the importance of the Union Budget, wherein Finance Minister, Nirmala Sitharaman could announce policy decisions that may impact small investors. The discussions in this webinar delved around some of these questions.
Nilesh Shah is Managing Director, Kotak Mahindra Asset Management Co. Ltd. He has over 25 years of experience in capital markets, having managed funds across equity, fixed income securities and real estate for local and global investors. In his previous assignments, he has held leadership roles with Axis Capital, ICICI Prudential Asset Management, Franklin Templeton and ICICI Securities. He was the recipient of the inaugural Business Standard Fund Manager of the Year – Debt award in 2004. He is a Chartered Accountant and a merit ranking cost accountant. Mr Shah is presently also a member of the Economic Advisory Council to the Prime Minister.
N S Venkatesh is the Chief Executive of the Association of Mutual Funds in India (AMFI). Prior to joining AMFI, a nodal association of mutual funds across India, he was Executive Director at Lakshmi Vilas Bank. He served in Industrial Development Bank of India for over 19 years. He has over three decades of experience in the banking sector, including over two decades in managing Treasury and International Banking. In addition, he has experience in matters relating to finance, risk management, information technology, accounting standards, audit and assurance as well as bank taxation. Mr Venkatesh is a Chartered Accountant by training.
Mythili Bhusnurmath is Senior Adviser, NCAER, and Consulting Editor, ET Now TV. She holds a Master’s in Economics from the Delhi School of Economics and is a Certified Associate of the Indian Institute of Bankers. She also holds a law degree from Delhi University. She worked with the State Bank of India and Reserve Bank of India before moving to journalism in 1993. She was Opinion Page Editor, The Economic Times, and Editor, The Financial Express.