BSE opens investor service centres in Bangalore, Pune and Jaipur

Tags: News
Premier stock exchange BSE has opened service centres in Bangalore, Pune and Jaipur that would look into investor grievances as well as function as a facility for arbitration procedures.

These centres were established on December 31, BSE said in a notification today.

With this, BSE now has a total of 11 such centres for investors across the country. The exchange had earlier set up centres in Mumbai, Ahmedabad, Delhi, Hyderabad, Chennai, Kanpur, Kolkata and Indore.

"BSE has set up Investor Service Centres providing investor grievance redressal mechanism and arbitration facility at Bangalore, Jaipur and Pune on December 31, 2013," the exchange said.

With a view to extend the reach of arbitration facilities to the investors, the Securities and Exchange Board of India (Sebi) in July 2013, had asked the bourses to increase the number of investor services centres.

According to the market regulator, increasing the number of centres would reduce the travelling and other incidental costs to investors in case they choose to avail these facilities.

Sebi had directed the stock exchanges to set up the centres at Bangalore, Pune, Jaipur and Ghaziabad before December 31, 2013.

It had also asked the bourses to set up centres at Lucknow, Gurgaon, Patna and Vadodara by June 30, 2014.

Arbitration generally refers to a process of resolving disputes through an out of court settlement.

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