SEBI launches SEVA Chatbot for Investors
Banking and Finance
3 min read
The capital market regulator, the Securities and Exchange Board of India (SEBI), has introduced SEBI’s Virtual Assistant (SEVA) chatbot to help investors of the securities market.
The SEVA Chatbot is an artificial intelligence-enabled chatbot that will answer certain investors' questions.
According to SEBI, the chatbot will have multiple features, such as citations, answering follow-up questions, and the ability to convert speech-to-text and text-to-speech.
The SEVA chatbots will enable users to ask questions about the securities market and SEBI’s complaint redressal platform (SCORES).
SCORES(SEBI Complaint Redressal System) was launched by SEBI in June 2011 as an online platform which enables an investor
to lodge complaints pertaining to the securities market online with SEBI against listed companies and SEBI-registered intermediaries.
SEBI launched SCORES 2.0 on 1 April 2024 with advanced features.
According to Sebi, the chatbot can answer questions about general information on the securities market, the latest master circulars, and the grievance redressal process.
A chatbot is an artificial intelligence (AI) program that creates conversational interaction between the chatbot and another human user through voice commands or text chats.
Modern chatbots use the latest technologies, such as artificial intelligence (AI), natural language understanding (NLU), machine learning (ML), natural language processing (NLP), etc., to provide human-like responses to queries.
About SEBI
The Securities Exchange Board of India (SEBI) was established in 1988 by a resolution of the government of India.
It was made a statutory body in 1992 under the provisions of the Securities and Exchange Board of India Act 1992.
It is the regulator of the Capital market and the Commodities market in India.
It works for the protection of investors in the securities market and the development of the securities market in India.
Like other financial regulators in India, SEBI is also under the Union Ministry of Finance.
Headquarters: Mumbai
Chairperson: Madhabi Puri Buch
