Sebi Hyderabad office to oversee functions in Telangana, AP

Mumbai: Market watchdog Sebi said its local office in Hyderabad will oversee the regulatory affairs in Andhra Pradesh as well as the newly created state of Telangana.

"Consequent upon the formation of the state of Telangana, the local office so established (Hyderabad) shall continue to look after the regulatory aspects of investor protection, facilitating redressal of investor grievances, financial and investor education and such other functions as may be assigned from time to time…" Sebi said in a notification.

According to Securities and Exchange Board of India, the role and responsibility of Hyderabad office "shall extend to the areas falling under the territorial jurisdiction of the state of Telangana and state of Andhra Pradesh". The Mumbai-based Sebi had established local office at Hyderabad last year as part of its efforts to decentralise its functions.