Sebi launches Saa₹thi 2.0 mobile app on personal finance

Market regulator the Securities and Exchange Board of India (Sebi) launched ‘Saa₹thi 2.0mobile app in Mumbai on Monday. The updated Saa₹thi app has introduced a user-friendly interface with comprehensive tools aimed at simplifying complex financial concepts, a Sebi release said.

It includes financial calculators, and has modules that introduce and explain KYC procedures, mutual funds, ETFs, buying and selling shares on stock exchanges, investor grievances redressal mechanism, and the Online Dispute Resolution (ODR) platform. Additionally, the app features a range of videos designed to assist investors in their personal finance planning.

Commenting on the launch, Ananth Narayan G, Whole Time Member said the updated Saa₹thi app would prove to be an unbiased, objective, and trusted source of investment information at a time when social media is replete with biased or misleading information.

“The Saa₹thi 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 G said.

“The content within the app is dynamic, allowing us to keep pace with the rapidly evolving market conditions. We actively seek public suggestions to further refine and enhance the Saa₹thi app, ensuring it continues to serve our investors,” he added.The Saa₹thi app is now available for download on Google Play Store and the iOS App Store.In another development, Sebi’s rumour verification framework kicked-off this Saturday where the top 100 listed companies by market capitalisation will now have to confirm or deny any market rumour reported in the mainstream media. The rule will be applicable for top 250 companies from December 1.Under this rule, these companies will have to ‘confirm, deny, or clarify any reported event or information in the mainstream media that is not general in nature and that indicates that rumours of an impending specific material event’ are circulating in public within 24 hours from the reporting of the information.

Sebi through its newly introduced rumour verification framework has excluded the price volatility in arriving at average market price for the purpose of corporate actions in a bid to make it fair for all investors at large.

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