The Securities and Exchange Board of India (Sebi) plans to spend Rs 20 crore to strengthen its surveillance systems. It has got its board’s approval for this.
Sebi plans to upgrade its data warehousing facilities, enabling it to process and analyse large amounts of information speedily. The upgrade was planned a year ago. A budget of Rs 5.3 crore was also approved. But, the plan could not be implemented. A much larger amount has been approved now.
A Sebi official said the project was aimed at monitoring market activities much faster and “the message for investors and intermediaries is that wrongdoers in the stock market will not go uncaught”.
The upgrade was needed because of significant growth in volumes and the number of transactions on stock exchanges. The growth will become much faster with more exchanges planning to start operations soon. Sebi is also thinking of allowing equity trading through mobile phones.
At present, trading is done only through internet mobile applications.
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