The Securities and Exchange Board of India (Sebi) launched a mobile application for lodging investor grievances, reports The Economic Times.
The app -- Sebi SCORES -- in an effort to improve the ease of doing business so that investors can conveniently lodge their grievances in Sebi Complaints Redress System (SCORES).
“SCORES mobile app will make it easier for investors to lodge their grievances with Sebi, as they can now access SCORES at their convenience of a smartphone. The App, I am sure, will encourage investors to lodge their complaints on SCORES rather than sending letters to Sebi in physical mode,” said Sebi chairman Ajay Tyagi in a release.
“This is another effort of Sebi in improving digitalisation in the securities market”, he added.
SCORES is a platform designed to help investors to lodge their complaints online with Sebi, pertaining to securities market, against listed companies, Sebi registered intermediaries and Sebi recognized Market Infrastructure Institutions (MIIs).
Since its launch in June 2011, Sebi on an average has received about 40,000 complaints every year. A total of 3,57,000 complaints has been resolved using SCORES platform, so far.
Entities against whom complaints are lodged are required to file an Action Taken Report with the market regulator within 30 days of receipt of complaints.