As it prepares a new regulatory framework for startups and alternative investments, regulator SEBI Thursday set up an 18-member panel headed by IT czar N R Narayana Murthy to advise on policy matters in this regard. The Alternative Investment Policy Advisory Committee (AIPAC) includes representatives from the industry, private equity firms and start-up organisations, besides senior officials of SEBI, RBI and the Finance Ministry. As per its Terms of Reference, the panel would give its recommendations to SEBI (Securities and Exchange Board of India) on issues related to the further development of the alternative investment and startup ecosystem in India.

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