Sebi, the capital markets regulator, is placing a significant emphasis on technology. It aims to implement a Geotagging solution in the current financial year to strengthen its enforcement activities. Alongside this initiative, Sebi has plans to undertake various projects to enhance its information technology (IT) capacity and establish a “fault-tolerant” architecture. The objective is to improve technological and cybersecurity capabilities in order to better serve stakeholders. According to Sebi’s annual report for 2022-23, the Geotagging Solution is expected to be operationalized in 2023-24.
Geotagging involves adding geographical information, typically in the form of latitude and longitude coordinates, to various media such as photos and videos. The project plans to implement geotagging technology-based mobile application solutions. These tools will assist the market regulator by enabling necessary photos or videos to be taken at specific locations, with details including the coordinates, date, and time. This will facilitate site visits, surveys, and training programs.
Sebi also aims to develop a cyber capability index (CCI) using technology. The CCI will provide an objective evaluation of the cybersecurity readiness of regulated entities and Sebi itself.
Furthermore, Sebi plans to leverage technology to facilitate ease of doing business initiatives. It intends to integrate its e-registration system with agencies like DigiLocker and the National Institute Of Securities Market (NISM) through application programming interfaces (APIs). This integration will facilitate real-time verification of information submitted by intermediaries.
Additionally, Sebi is considering the introduction of an online document verification facility. This initiative aims to ensure the authenticity of documents and notices sent by Sebi.
