Capital markets regulator Sebi on Saturday opened a local office here as part of its objective to enhance its physical proximity to investors and intermediaries.
The new office in Vijayawada will have jurisdiction over the entire State of Andhra Pradesh. The regulator already has a local office in neighbouring State Telangana's capital Hyderabad, which was earlier Capital of the undivided Andhra Pradesh.
Announcing the inauguration of the new office, the Securities and Exchange Board of India (Sebi) said in a statement the functions of Vijayawada office would include facilitating the redressal of investor grievances against listed companies and securities market intermediaries, as also to spread investor education and financial literacy in the State.
Besides its headquarters in Mumbai, Sebi has regional offices at New Delhi, Chennai, Kolkata and Ahmedabad.