Sebi plans to introduce new complaint system with revamped website, mobile app

Capital markets regulator Sebi is planning to overhaul the existing investors complaint system SCORES by introducing a newer version of its website and mobile application features.

In this regard, the Securities and Exchange Board of India (Sebi) has invited expressions of interest (EoIs) from interested parties to replace the old system with a new version, according to a notice on Friday.

What is SCORES?

SCORES (SEBI Complaints Redressal System) is an online platform designed to help investors lodge their complaints pertaining to the securities market, mainly against listed companies and registered intermediaries. It was made operational in June 2011. All complaints received through SCORES are dealt with in a time-bound manner.

In the latest version, interested candidates would develop a new website and mobile application for investors to lodge their grievances in a more efficient and easy manner.

New features

Complainants will have the facility to check status of complaints, send reminders and lodge appeals against closed complaints.

The system should have the capacity to show a full audit history of the movement of complaints to all stakeholders -- complainant, entity and Sebi officials, the regulator said.

The new SCORES system (web and mobile platforms) will be developed in bilingual format -- English and Hindi -- and an option to add support for new languages in future should be kept, it added.

Interested bidder

The interested bidder is required to develop Application Programming Interfaces (APIs) for market infrastructure institutions -- stock exchanges and depositories -- as well as a chatbot to access complaints-related information. They need to maintain and support the new system for 5 years.

Interested candidates can submit their applications by December 9, the regulator added.