Regulator Sebi Tuesday said it has set up an advisory committee to promote research relevant for development and regulation of capital markets as well as the linkage of research to policy making.

The research advisory panel has prominent financial economists and market practitioners as its members.

The committee would be "defining objectives, scope and direction of research relevant for development and regulation of capital markets in India and for Sebi, especially keeping in view the linkage of research to policy making", the regulator said in a release.

Besides, it would make strategy for effective execution and delivery of research objectives as well as for promotion, development, maintenance of databases relevant for capital market regulation, the release added.

Moreover, the committee will be exploring research collaborations with other sector regulators as well as academic institutions, both domestically and overseas, as appropriate.

Earlier in the day, Sebi chairman Ajay Tyagi at an event said that "research is an essential input for any public policy making, particularly in financial markets which are highly dynamic and ever changing. Without independent research inputs, taking decisions is like shooting in the dark and that too blind-folded".

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