New Delhi, June 19 -- In his second board meeting as chairperson of the Securities and Exchange Board of India (Sebi), Tuhin Kanta Pandey approved a sweeping set of regulatory changes aimed at reducing friction across capital markets.

With reforms for startups and PSU delisting norms, tweaks to the structures of alternative investment funds (AIFs) and angel funds, and easier procedures for intermediaries, the regulator moved decisively to bolster its 'ease of doing business' agenda.

Mint breaks down the key decisions from Sebi's 210th board meeting, and what they mean for investors, startups and the broader financial ecosystem.

Sebi permitted founders designated as promoters to retain employee stock options (Esops), provided these were...