Madhabi Puri Buch: Investors to access ‘Direct’ data from exchanges soon

“As a regulator we often come across cases of investors who have been conned by frauds in the market, who claim that they have invested their monies on behalf of the investor but those funds have just been siphoned off,” Sebi chief Madhabi Puri Buch said at the launch of unified investor apps by depositories NSDL and CDSL.

“For years fraudulent statements with NSDL and CDSL written on top is given to those investors and the poor investors actually believe that they are holding portfolios of tens of lakhs or crores, actually not a single penny was invested in their name,” She said.

Nationals Securities Depository has launched unified investor web and mobile applications SPEED-e, while Central Depository Services has launched MyEasi.

“The source of truth is the depositories and the exchanges and the clearing corporations. This data is coming direct from source of truth to the hands of the investor with no opportunity for any fraudulent intervention by any person in the middle,” Buch said.

“We believe that this will be another very powerful tool in the hands of investors because he will see the information direct from source of truth,” She added. These apps will provide investors a consolidated view of their demat securities across depositories, eliminating the need to log into multiple platforms, holding statements in one place and streamlining portfolio management.