SEBI Launches SEVA: AI Chatbot for Investor Assistance

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 was 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.