Market regulator the Securities and Exchange Board of India (Sebi) today directed the depositories -- the National Securities Depository (NSDL) and the Central Securities Depository (CSDL) -- to disclose details of complaints lodged by investors against intermediaries, on their website.

The move is aimed at increasing transparency in the grievance redressal mechanism and improving the general functioning of the market by providing investors the wherewithal to make an informed choice.

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Depositories would have to make the disclosures on their website within one month from now, continuously, the market regulator said, adding, the details would have to be updated every week. NSDL and CSDL would also have to inform DPs, companies and their registrar & transfer agents about this circular, it added.

"Make amendments to the relevant bye-laws, rules and regulations for the implementation of the aforesaid disclosures, if necessary... (and) communicate to Sebi, the status of the implementation of the provisions of this circular in the monthly development report," Sebi said.

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