The Securities and Exchange Board of India – SEBI has launched a new and more user friendly version of its complaint redress system – SCORES 2.0. According to an official press release, the new version of SCORES will make the process more efficient through auto-routing, auto-escalation, monitoring by the designated bodies and reduction of timelines.
According to SEBI, the timeline for redressal of complaints in SCORES 2.0 has been reduced to 21 calendar days. Besides, there will be two levels of review, first by the ‘Designated Body’ and if the investor is dissatisfied, SEBI will undertake a second review. The market regulator has enabled integration with the KYC Registration Agency database for easy registration of the investor on SCORES.
It may be noted that from today onwards, investors will be able to lodge complaints only through the new version of SCORES, which is accessible on the website https://scores.sebi.gov.in. The old website, https://scores.gov.in will only remain operational for investors to check the status of their old complaints. SEBI has informed that the old SCORES app has been discontinued and a new App will be launched soon.