Calls on the Sebi's proposed multi-lingual toll free helpline will be recorded and tracked, as the market regulator aims at enhancing its mechanism to resolve investors' grievances and spread financial literacy.
The Securities and Exchange Board of India (Sebi) has proposed to provide the existing helpline services as toll free helpline to investors on a national level in multiple languages.
The regulator has started the process towards setting up of the helpline number, aimed at responding to queries of investors and help track the status of their complaints.
"The toll free helpline service shall be provided between 9.30 am to 5.30 pm from Monday to Friday and may be extended after examining the number of calls received during the initial period of three months," the regulator said.
Recording and tracking of calls is one of the main work of the agencies that will be empanelled for the helpline project, Sebi said.
The agencies will also inform investors on matters like how to lodge a complaint and against whom, how to open demat or client account and status of complaint.
The regulator has invited tenders for empanelment of agencies. Besides, Sebi also proposes to guide investors on matters pertaining to other regulators that are not under its purview.
However, the callers on the free helpline will not be provided with legal opinions and investment advice.
The proposals to establish the helpline for investors and have a grievances tracking system, among others, were approved by the Sebi in a Board meeting held in February.
