The Securities and Exchange Board of India (SEBI), the regulatory authority for capital markets, is placing significant emphasis on technology adoption. As part of its strategic initiatives, SEBI aims to implement a geotagging solution in the ongoing fiscal year to reinforce the effectiveness of its enforcement operations. Alongside its tech-centric focus, SEBI has outlined plans for various projects geared towards bolstering its information technology infrastructure and establishing a robust and fault-tolerant architecture.

This proactive approach is geared towards enhancing SEBI’s technological prowess and cybersecurity preparedness, ultimately leading to improved service for its stakeholders. According to the regulator’s annual report for the fiscal year 2022-23, SEBI has detailed its intent to introduce a geotagging solution in the upcoming year to augment its enforcement processes. Geotagging involves the incorporation of geographical data, typically in the form of latitude and longitude coordinates, into different types of media such as photographs and videos. The proposed project envisions the implementation of a geotagging-enabled mobile application solution. This innovation would empower the market regulator to capture essential visual evidence, complete with location, date, and time details, during site inspections, surveys, and training endeavors. The anticipated timeline for the deployment of the Geotagging Solution is set for the financial year 2023-24.

Furthermore, SEBI is pursuing the development of a Cyber Capability Index (CCI) that can offer an objective evaluation of the cybersecurity readiness of both the entities it regulates and the regulator itself. This underscores SEBI’s commitment to enhancing cybersecurity measures within the financial landscape.

In addition to these initiatives, SEBI envisions leveraging technology to streamline business practices. The regulator intends to integrate its e-registration system with agencies such as DigiLocker and the National Institute Of Securities Markets (NISM) using application programming interfaces (APIs). This integration aims to facilitate real-time verification of information submitted by intermediaries. Additionally, SEBI is contemplating the implementation of an online document verification mechanism to validate the authenticity of documents and notifications issued by the regulator. SEBI’s multifaceted technological endeavors signify its proactive stance in embracing innovation to strengthen regulatory operations, cybersecurity protocols, and overall market efficiency.