'We have set up the Indian Institute for Corporate Affairs, which is an intellectual think-tank that will partner Indian Institute of Technology (IIT), Kharagpur.'

Besides, the National Foundation of Corporate Governance has been founded along with the Confederation of Indian Industry.

'We are trying to demystify corporate governance. In this process, a great deal of educational programmes for the investors and investor protection will have to be implemented,' he said.

The minister clarified that the government was not proposing quotas for people from the minority community. 'We are talking of partnerships, trust. We want job opportunities to open up for all. Best affirmative action should be that we make space for those who remained denied through collaborative efforts between the government and the private sector.'