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The Securities and Exchange Board of India (SEBI)'s General Manager has cautioned investors to verify and validate intermediaries before making payments or downloading market-related applications, while stressing that the capital market will play a key role in achieving the vision of Viksit Bharat.
Addressing the PHD Chamber of Commerce and Industry (PHDCCI)'s 8th Annual Convention on Capital Market & Commodity Market, Gyanendra Niraj, General Manager, SEBI, highlighted the regulator's recently launched "SEBI Check" initiative and asked investors to remain cautious against fraudulent links and fake applications. "The initiative that SEBI had taken two to three months ago... only in the last week we have launched 'Project Jagrook'," Niraj said, adding that the initiative was launched by Finance Minister Nirmala Sitharaman during SEBI's foundation day event in Mumbai. Explaining the "SEBI Check" mechanism, he said investors should verify intermediaries before making any transaction. If the company does not show a verified thumbs-up mark, investors should avoid making any payment, he said, describing this as the purpose of the "SEBI Check" system. He added that investors should always "check, validate and verify" before completing any transaction. Niraj also cautioned investors against downloading applications through random links and advised them to use official exchange platforms. "Whenever somebody is sending you a link, please don't download. Go to the stock exchange website, BSE or NSE website... Other than that, please don't download," he said. He further said investors should always look for a verification tick mark before downloading any intermediary app. "Whenever you are going to download any of the apps of any of the market intermediaries... see whether this is a tick mark written there. If there is not a tick mark, please, please, please don't download," Niraj said. Highlighting the long-term potential of the capital market, the SEBI official said the market has delivered strong returns compared to other asset classes. "This is the only place... over the last 30 years it has given a phenomenal return of 15.61 per cent CAGR. No other asset class has given that much," he said. Niraj also said SEBI is expanding investor outreach through social media and regional languages to improve awareness among investors across the country. "SEBI Update is on LinkedIn today, Instagram and X," he said, urging market participants to "like, subscribe and share." Stressing the importance of capital markets in India's economic ambitions, he said, "If we want to 'Viksit' [develop] India... then the capital market has to play its part." He added that SEBI wants to reach "the investor at large as much as we can" and called upon market participants to support investor awareness efforts. (ANI)
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