Sebi launches mobile app for lodging investor grievances
06 March 2020
Market regulator Securities and Exchange Board of India on Thursday announced the launch of a mobile application in its Complaints Redress System (SCORES) for investors to lodge grievances, as part of its efforts to improve the ease of doing business.
Launching the mobile app, `SEBI SCORES’, Sebi chairman Ajay Tyagi said “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 smart phone. The Mobile App, I am sure, will encourage investors to lodge their complaints on SCORES rather than sending letters to Sebi in physical mode”.
“This is another effort of Sebi in improving digitalisation in securities market”, he added.
The App has all the features of SCORES which is currently available electronically where investors have to lodge their complaints by using internet medium. After mandatory registration on the App, for each grievance lodged, investors will get an acknowledgement via SMS and e-mail on their registered mobile numbers and e-mail ID respectively. Investors can not only file their grievances but also track the status of their complaint redressal.
Investors can also key in reminders for their pending grievances. Tools like FAQs on SCORES for better understanding of the complaint handling process can also be accessed.
Connectivity to the Sebi toll-free helpline number has been provided from the App for any clarifications/help that investors may require.
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-recognised market infrastructure institutions.
Sebi said since its launch in June 2011, it has on an average received about 40,000 complaints every year. A total of 3,57,000 complaints have been resolved using SCORES platform, so far. As per Sebi norms, entities against which complaints are lodged are required to file an Action Taken Report with Sebi within 30 days of receipt of complaints.
The Mobile App ‘SEBI SCORES’ is available on both iOS and Android platforms.