Swift Action by Sebi: Nearly 5,000 Complaints Addressed in February

Sebi addressed 4,986 complaints in February using its SCORES platform. As of February-end, some complaints involved major entities like ICICI Securities, with 4,376 still unresolved. The upgraded SCORES 2.0 system improved complaint processing. Discontented investors can seek online dispute resolution or escalate issues for further review.

The Securities and Exchange Board of India (Sebi) announced that it resolved 4,986 complaints via its SCORES platform in February. However, as of the month's end, eight grievances involving entities such as ICICI Securities remained unresolved for over three months.

Sebi noted that, by February 28, it had received 3,969 new complaints, leaving a balance of 4,376 unresolved. The upgraded SCORES 2.0 system now processes complaints faster, forwarding them directly to the involved entities, which must respond within 21 days.

Investors unsatisfied with resolutions can request higher-level reviews or use an Online Disputes Redressal mechanism. The complaints system, originally launched in 2011, was enhanced last April, underscoring Sebi's commitment to effective investor grievance handling.

(With inputs from agencies.)