Sebi launches mobile app for investors to lodge grievances

Markets regulator Sebi on Thursday said it has launched a mobile application for convenience of investors to lodge grievances in Sebi Complaints Redress System (SCORES).

The app, 'Sebi SCORES', is available on both iOS and Android platforms, Sebi said in a press release.

"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 mobile app... will encourage investors to lodge their complaints on SCORES rather than sending letters to Sebi in physical mode," Sebi Chairman Ajay Tyagi said.

The app has all the features of SCORES, which is currently available electronically, Sebi said.

After mandatory registration on the application, investors will get an acknowledgement through SMS and e-mail for each grievance lodged. Investors can also track the status of their complaint redressal.

Besides, connectivity to the toll-free helpline number of Sebi has also been provided on the app.

SCORES is a platform for investors to lodge online complaints with Sebi against listed companies, registered intermediaries and market infrastructure institutions.

According to Sebi norms, entities against whom complaints are lodged need to file an action taken report with the regulator within 30 days of receipt of complaint, Sebi said.

Since its launch in June 2011, Sebi has received about 40,000 complaints every year on an average, it added.