SEBI on 22nd May 2015 set up an 18-member panel which will be headed by IT czar N R Narayana Murthy to advise on policy matters. The Alternative Investment Policy Advisory Committee ( AIPAC) includes representatives from

1. the industry,
2. private equity firms
3. start-up organisations
4. besides senior officials of Sebi
5. RBI
6. the Finance Ministry.

Functions of Committee:

1. the panel would give its recommendations to Sebi (Securities and Exchange Board of India) on issues of further development on alternative investment and startup ecosystem in India.
2. It would act as a adviser to  Sebi on any hurdles that might hinder the growth of the alternative investment industry.
3. The Committee would give inputs on issues which need to be taken up with other regulators for development of the alternative investment industry.3
4. It will also take matters of relevance alternative investment industry and development of the startup ecosystem.

About SEBI:

1. The Securities and Exchange Board of India (SEBI) is the regulator for the securities market in India.
2. Established : In 12th April 1988.
3. Headquarters: Mumbai.

Related Questions:

1. Who is the current Chairman of SEBI? (Upendra Kumar Sinha)