CB Bhave, Chairman, Sebi said that the interest rate futures will be
launched soon.

He feels that there is a need to make progress in terms of
satisfying all aspects of market. "We are studying whether to allow
NRIs and FIIs to participate in currency futures. We are also
studying other currency contracts like a Rupee-Euro or a Rupee-Yen
to be introduced. We are studying to allow foreign companies to
raise money in India and list in Indian stock exchanges."

Bhave also said that all the listed companies will have to follow
Sebi norms even if new companies Bill proposes 33 % independent
directors.

Sebi will finalise the terms and conditions on which the SME (Small
and Medium Enterprises) exchange will be formed very soon, Bhave
said.

The primary market advisory Committee will discuss whether IPO
grading has worked, in its upcoming meeting. He said that there was
a misuse of preferential allotment and so the Sebi came up with
guidelines. "We are not allowing allotments to promoters. However
future changes in these guidelines cannot be ruled out," Bhave said.