Capital markets regulator Sebi will put in place norms to help entrepreneurs raise funds through crowd-funding in a few months, Sebi chairman UK Sinha said. “We have still not been able to finalise it because there were a lot of divergent views,” Sinha told reporters.
&8220;We hope to finalise it in a couple of months.&8221; Sinha was speaking on the sidelines of the inauguration of private lender Bandhan bank’s 600th branch in Mumbai. Sebi had constituted a committee headed by Infosys co-founder N R Narayana Murthy to suggest ways for raising funds through crowd-funding.
Earlier this month, Sinha had said the committee was likely to submit its report in a month. The regulator had earlier come out with a discussion paper on crowdfunding norms.
Simply put, crowdfunding typically involves young entrepreneurs and small groups of people raising funds for their ventures through various online platforms involving individuals and organisations.