Informist, Tuesday, Aug. 12, 2025

MUMBAI – The Securtities and Exchange Board of India has launched an artificial intelligence-based conversation platform, SEVA, to help investors learn about Indian securities market, the regulator said in its annual report on Tuesday. SEVA is trained to answer questions related to general information on securities market, latest master circulars, grievance redressal process.

To enhance in-house productivity, SEBI has designed and developed generative AI tool for multi-faceted analytics or 'SIGMA'. The tool is being used within SEBI for processing of private placement memorandum and analysis of bulk email dump for identifying implicit approvals, the market regulator said.

SEBI also developed an in-house application, 'InfoMerge', to streamline and automate processing cases in the investigation department. The application fetches Know-Your-Customer details of suspects or insiders from SEBI's data warehouse system and identifies entities connected to them using internal database.

The remaining preliminary data, such as trade details, call data records, and bank statements are obtained from various sources using automated emails through InfoMerge application. By automating the data collection mechanism, the system has enhanced the speed of the investigation process. "While Phase I has been implemented, Phase II and III would be rolled out in 2025-26 (Apr-Mar)," SEBI said.

To improve market surveillance, SEBI has developed a market intelligence portal to provide inputs pertaining to market abuse. The portal has been operational from May 2024, the market regulator said in the report.

In FY25, SEBI rationalised the scope and definition of categories such as 'connected person' and 'relative' to cover categories who would be in a position to access unpublished price sensitive information. SEBI also broadened the scope of information deemed price sensitive by including additional events under the definition of unpublished price sensitive information.

Addressing the abnormal price movement in public sector company stocks, SEBI has extended the major surveillance frameworks to such stocks. Further, it has mandated the display of alert messages for small and medium enterprises stocks during high price volatility.

To unearth market misconduct, SEBI conducted search and seizure operations involving 89 entities at 71 locations covering 18 cities during FY25, the report said. End

Reported by Afra Abubacker

Edited by Tanima Banerjee

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