Indian
stocks remain unaffected at the Bombay Stock Exchange and National
Stock Exchange indices from the crisis-stricken US Stock Market,
reveals the Chairman of Securities and Exchange Board of India (SEBI),
U. K. Sinha.

The crash in the market is predicted to be due to the change in the
global developments, which is also being witnessed by the Indian
economy. The market was recorded above 600 basis points intraday, which
fell below 17,000 at the global market. Mr. Sinha revealed that SEBI
was observing the market situation and that the Indian market was not
at a risk of any loss from the fall.

Mr. Sinha further revealed that as soon as the consent over the
guidelines of the initial public offers (IPOs) were received from
various insurance companies, SEBI will declare about it. The SEBI was
already discussing the issue with the Insurance Regulatory and
Development Authority (IRDA). The insurance watchdog has already
declared the guidelines of IPO to the public.

As per Mr. Sinha, "Our market and regulatory system is perfectly in
place. Our risk management system is working perfectly. All the
settlements are taking place. There is nothing for anybody to worry on
that account”.