By end of FY18 pending investor grievances declined 16%, says Sebi

Investor grievances pending with Sebi dropped by 16 per cent to nearly 3,800 at the end of 2017-18 with the markets regulator working on their expeditious disposal, according to a Sebi report.       

The number of pending actionable grievances stood at 4,476 as on March 31, 2017.

According to the SCORES data, such complaints numbered at 3,771 as on March 31, 2018, registering a fall of 15.75 per cent from the year-ago period.

Pending actionable grievances exclude the complaints against which regulatory action has been initiated.

Also, there has been a 13-fold plunge in number of the pending grievances at the end of the previous fiscal in comparison to the conclusion of the financial year 2008-09, when the number stood at 49,113.

"... The number of pending grievances has been steadily declining over the years due to expeditious disposal at the end of Sebi," the report said.

Out of the pendency of 3,771 grievances, 3,124 are pending for less than six months.

"Further, only 647 grievances are pending for more than six months as on March 31, 2018 as compared to 984 grievances being pending for more than six months as on March 31, 2017," the report noted.

The Sebi Complaints Redressal System (SCORES) is a centralised web-based grievance remedial platform. It enables market intermediaries and listed companies to receive complaints online from investors, redress them and report redressal online.

The regulator received 43,131 investor complaints during 2017-18, as against 40,000 in the previous fiscal, according to the report.

"The number of investor complaints received by Sebi on cumulative basis increased from 30,03,454 as on March 31, 2017 to 30,46,585 as on March 31, 2018," the report said.

Also, 43,308 complaints were redressed by Sebi during 2017-18, in comparison to 49,301 in 2016-17.

Cumulatively, the number of redressed complaints stood at 29,19,690 till the end of 2017-18, while 28,76,382 grievances were taken care of till the conclusion of the previous fiscal.