News Excerpt:
The market regulator Securities and Exchange Board of India (SEBI) unveiled its latest mobile app, 'Saa ₹thi 2.0', designed to help investors manage their finances.
More about the app:
It is packed with tools to make complex financial concepts easier to understand.
- Financial calculators: Helps investors make informed financial decisions.
- Educational modules: Explains KYC procedures, mutual funds, ETFs, and the process of buying and selling shares on stock exchanges.
- Investor support: Provides information on the investor grievances redressal mechanism and the Online Dispute Resolution (ODR) platform.
- Video content: Offers a variety of videos to guide investors in personal finance planning.
Rising need for reliable information:
- This launch comes amid a surge in trading scams in India.
- About 7,000 cyber-related complaints are registered daily on India's National Cybercrime Reporting Portal (NCRP).
- According to the Indian Cybercrime Coordination Centre (I4C), over 100,000 investment scam cases were reported in 2023.
- The total amount lost to cyber criminals by Indians between January and April 2024 stood at Rs 1,760 crore.
The 'Saa ₹thi' app aims to fill this gap by providing trustworthy insights into the securities market. It is particularly beneficial for young investors who are just starting their financial journeys.
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SEBI
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