SEBI Unveils mobile app ‘Saa₹thi’ to provide financial product information to investors

20 Jan,22 9:30 am
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Saa₹thi

Saa₹thi: Amid the growing trend of stock trading through mobiles, capital markets regulator Securities and Exchanges Board of India (SEBI)  launched its mobile App named Saa₹thi.

Key Highlights:

  • Saa₹thi was unveiled by SEBI Chairman Ajay Tyagi on 19 January 2022.
  • The app seeks to create awareness among investors about the basic concepts of securities market.
  • It will provide all financial product information and will also prove to be effective due to the increasing trading through mobile apps.
  • This mobile App is yet another initiative of Sebi with a view to empowering investors with knowledge about securities market.
  • The application is multilingual. It is available in Hindi and English.
  • The Android and iOS versions of the App can be downloaded from Play Store and App Store respectively.

Aim:

  • Saa ₹thi aims to create awareness among the investors about the basic concepts of securities market, KYC process, trading and settlement, mutual funds, recent market developments, investor grievances redressal mechanism, etc.

About SEBI:

  • The Securities and Exchange Board of India (SEBI) is the regulatory body for securities and commodity market in India under the jurisdiction of Ministry of Finance, Government of India (GoI).
  • It was established on 12 April 1988 and given Statutory Powers on 30 January 1992 through the SEBI Act, 1992.
  • The Preamble of the Securities and Exchange Board of India describes the basic functions of the Securities and Exchange Board of India.

Functions of SEBI:

  • The main function of SEBI is to safeguard the rights and interests of the investor, reduce malpractices related to the stock exchange, establishing a code of conduct and promoting the healthy functioning of the stock exchange.

Note: Controller of Capital Issues was the regulatory authority before SEBI came into existence; it derived authority from the Capital Issues (Control) Act, 1947.

  • It is headquartered in Mumbai, Maharashtra.

Members:

  • The SEBI is managed by its members, which consists of the following:
  • The chairman is nominated by the Union Government of India.
  • Two members, i.e., Officers from the Union Finance Ministry.
  • One member from the Reserve Bank of India.
  • The remaining five members are nominated by the Union Government of India, out of them at least three shall be whole-time members.
  • The current Chairman of SEBI is Ajay Tyagi.

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