Mumbai, Sept. 23 -- As India's economy becomes larger and more sophisticated, its financing requirements also need to become more diverse, Securities and Exchange Board of India (SEBI) Chairman Tuhin Kanta Pandey said on Wednesday.

Addressing the 13th SBI Banking & Economics Conclave, Pandey stated that meeting the country's economic aspirations requires a growing and varied pool of capital, with banks and capital markets functioning not as competing destinations, but as complementary parts of the same ecosystem.

Highlighting the structural shifts in capital requirements, Pandey noted that different economic activities demand different funding instruments.

"India's aspirations are large. We need capital for infrastructure and manufactu...