According too SEBI Chief Mr. U.K. Sinha, newly beefed up SEBI surveillance mechanisms now receive above 100 alerts relating to investor grievances daily.
Mr. U.K. Sinha also said, “We have now introduced very sophisticated surveillance mechanism. Each day we are getting nearly above 100 alerts from our data warehousing system. There are teams working on following-up each and every alert. Wherever we find that the alerts have to be taken to the stage of enforcement, litigation or / further action, those are being taken”
Inverstor helpline..!
He further said, “Let me assure you that if there is any attempt on part of anybody to manipulate the market or to bypass the rules, we are today in a much better position to handle it. There was a concern over speculative activities in the market & that there was a worry that the Indian market was being treated such as a casino where one could do anything and get away with it. I would like to assure that on the earlier worry of whether the market is being well-regulated or not, we might have gone to the other extreme but definitely not on the side where we will allow things to happen without getting noticed by SEBI”
One of the surveillance mechanisms mentioned by the Mr. U.K. Sinha was the investor helpline. “We have started an investor helpline & received above one lakh calls in the 6 months and 66 % of these calls have come in the past 3 months. So people are increasingly using our helpline to solve their complaints or / know about the market.”
This inverstor helpline service is available in 13 languages.
SCORES..!
Another initiative set up by SEBI for redressal of investor grievance is the SCORES..!
(SEBI Complaints Redress System). Scores is a centralised Web-based system launched in June 2011 to enable investors to lodge and follow-up complaints and track the status of redressal online on the Web site.
The system also enables market intermediaries and listed companies to receive complaints online from investors, redress these and report the redressal online.
So far, SEBI has received about 80,000 complaints through Scores, of which 67,000 have been fully redressed. 50% of these have been addressed in less than 30 days.
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