SEBI Launches SEVA: AI Chatbot for Investor Assistance

SEBI has introduced SEVA, an AI-powered chatbot, to assist investors in the securities market. The primary goal is to enhance investor experience and accessibility to market information, improve investor engagement, and increase transparency.

Introduction and Purpose of SEVA

SEBI (Securities and Exchange Board of India) introduced SEVA (SEBI's Virtual Assistant) on July 29, 2024.
SEVA is an AI-powered chatbot designed to assist investors in the securities market.
Primary goal: To enhance investor experience and accessibility to crucial market information.
Aims to improve investor engagement and transparency in the securities market.
Part of SEBI's mandate for investor protection.
Currently available in beta version on SEBI's investor website and the SAARTHI mobile app (Android and iOS).

Key Features and Functionalities of SEVA

General Information:

Provides essential details about the securities market.
Offers information on the latest master circulars.
Answers questions about SEBI's complaint redressal platform (SCORES).

Accessibility Features:

Supports speech-to-text and text-to-speech functionalities.
Allows for follow-up questions to refine responses.
Provides citations for generated responses.

User Interface:

Main menu options include inquiries about the securities market, SCORES, employee details, and SEBI contact information.
Users can provide feedback on the chatbot's performance.

Grievance Redressal:

Offers guidance on the grievance redressal process.
Helps users navigate their concerns and complaints.

Future Plans:

SEBI plans to expand the chatbot's capabilities based on user feedback.
More topics and features to be added over time.

Technical Aspects and SEBI Background

Chatbot Technology:

Uses Artificial Intelligence (AI), Natural Language Understanding (NLU), Machine Learning (ML), and Natural Language Processing (NLP).
Designed to provide human-like responses to queries.
Recognizes patterns to deliver relevant information.

About SEBI:

SEBI established in 1988 by the Government of India.
Made a statutory body in 1992 under the Securities and Exchange Board of India Act 1992.
Regulator of the Capital and Commodities markets in India.
Works for investor protection and development of the securities market.
Operates under the Union Ministry of Finance.
Headquarters in Mumbai.
Current Chairperson: Madhabi Puri Buch.

SCORES (SEBI Complaint Redressal System):

Launched in June 2011 as an online platform for investor complaints.
Allows investors to lodge complaints against listed companies and SEBI-registered intermediaries.
SCORES 2.0 launched on April 1, 2024, with advanced features.

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