MUMBAI: In its bid to contain if not stop the flood of misleading and biased information about markets and stocks, the regulator Sebi has launched a mobile app, which also doubles up as a user-friendly interface with comprehensive tools aimed at simplifying complex financial concepts.
The Securities and Exchange Board (Sebi) in a statement on Monday said the app is an updated version of the Saarthi app, which was introduced earlier.
The new app includes financial calculators and has modules that introduce and explain KYC procedures, mutual funds, exchange traded funds, buying and selling shares on stock exchanges, an investor grievances redressal mechanism and an online dispute resolution platform, Sebi whole-time member Ananth Narayan G said while launching it.
That apart, the app features a range of videos designed to assist investors in their personal finance planning.
“In today’s era, where social media sometimes provides biased or misleading information, there is a significant need for an unbiased, objective, and trusted source of investment information. The app serves this purpose by empowering investors with reliable and essential insights into the securities market. This tool can be especially useful for young investors who are at the beginning of their financial journey,” Narayan said.
The app has dynamic content, allowing one to keep pace with the rapidly evolving market conditions, he said, and sought public suggestions to further refine and enhance it so that it continues to serve investors.
The app is available for download on Google Play Store and the iOS App Store.
Financial sector regulators seem to have taken a fancy to mobile apps. It was only late last week that the Reserve Bank launched a mobile version of its Retail Direct portal, which was launched in November 2021 to help retail investors trade directly in government bonds, both central government securities and state government bonds, as well as to directly invest in sovereign gold bonds and other government savings bonds. By opening an account with the RBI, one can trade both during auctions as well as in the secondary market.