SEBI sees 18% fall in pending investor complaints
According to the data published in the 2016-17 Annual Report of the Securities and Exchange Board of India (SEBI), the number of investor grievances, pending with the market regulator, has declined almost 18% till March-end. The number of pending actionable complaints was 5,452 as on March 31, 2016; and by March 31, 2017 it has come down to 4,476. Here's more about it.
SCORES is a centralized Web-based grievance remedial platform, used by SEBI. The expeditious disposal of pending complaints via this system has been cited as the reason behind this significant drop. SEBI had 984 grievances pending for more than six months as on March 31, 2017, whereas the number of pending grievances for more than six months was 1,973 as on March 31, 2016.
SCORES: SEBI Complaint Redress System. pic.twitter.com/cPH5e3xtZN— Awareness (@SEBI_India) August 10, 2015
The market regulator reported that it had received 40,000 investor complaints during 2016-17. A survey conducted by SEBI on SCORES via an independent agency shows that out of 10,000 investors, selected randomly from across Mumbai, New Delhi, Ahmedabad, and Kolkata, more than 75% were satisfied with SEBI's grievance redressal mechanism.