No separate exchange for small, medium firms - SEBI

MUMBAI (Reuters) - Indian market regulator Securities and Exchange Board of India (SEBI) said on Monday it does not require setting up a separate exchange for small and medium enterprises (SME).

"It doesn't have to be separate exchange (for SMEs) " Chairman C B Bhave, told reporters after a board meeting.

The paid-up capital of SME would be capped at 250 million rupees, Bhave said, adding small and medium firms would be required their issues to be fully underwritten.

(Reporting by Ketan Bondre; Editing by Harish Nambiar)