Investor Charter of Stock Exchanges - NSE
Mission
- To provide transparent, equitable and reliable markets with timely and accurate information dissemination for investors.
- To provide the highest standards of investor education, investor awareness and investor protection and timely services.
Vision
- To provide a safe, equitable, transparent and trusted platform for investors to participate across asset classes with highest standards of integrity for investors.
The exchange facilitates various products for investors to participate across asset classes viz Equity, Derivatives, Debt, Mutual Funds, Government securities etc.
https://www.nseindia.com/products-services
https://www.nseindia.com/products-services
Exchange provides various services to investors electronically through its online platform and physically through the dedicated investor service centers set for this purpose.
Services provided by the Exchange to investors (.pdf)
- Mode of filing the complaints
Complaints can be lodged on the Exchange in the following ways:
a. Electronic mode
- Through SCORES (a web based centralized grievance redressal system of SEBI)
- Through Respective Exchange’s web portal dedicated for the filing of compliant
Click here to visit the portal - Email IDs
b. Offline mode – Physical Click here to download complaint form
- Documents required for complaint resolution and Multi-level dispute resolution mechanism available at the Exchange.
Mechanism and Documents (.pdf) - Timelines for Complaint Resolution Process at Exchanges
| Sr. No | Type of Activity | Expected Timelines for activity |
|---|---|---|
| Against Stock Brokers | ||
| 1 | Receipt of Complaint | Day of complaint (C Day) |
| 2 | Additional information sought from the investor, if any, and provisionally forwarded to stock broker | C + 7 Working days |
| 3 | Registration of the Complaint and forwarding to the stock broker | C+8 Working Days i.e. T day |
| 4 | Amicable Resolution | T+15 Working Days |
| 5 | Refer to Grievance Redressal Committee (GRC), in case of no amicable resolution | T+16 Working Days |
| 6 | Complete resolution process post GRC | T + 30 Working Days |
| 7 | In case where the GRC Member requires additional information, complete resolution shall take place within | T + 45 Working Days |
| 8 | Implementation of GRC Order | On receipt of GRC Order, debit the funds of the stock broker |
| 9 | Complainant/ Broker, if not satisfied, by IGRC decision can avail arbitration mechanism | Within 3 months from the date of IGRC recommendation |
| 10 | In case of receipt of arbitration intention | Obtain an undertaking from the client and pay 50% of the award or 2 lakhs whichever is less to the client from the IPFT, in case GRC order is upto Rs. 20 lacs |
| 11 | Arbitration not filed within 3 months from the GRC Order | Obtain Undertaking from the client and Release 50% amount to the client. Replenish 50% amount to the IPF |
| 12 | Completion of arbitration proceedings | Within 4 months from the date of the final appointment of arbitrator |
| 13 | Completion of appellate proceedings | Within 3 months from the date of the final appointment of arbitrator |
| Against Companies | (Not Applicable for Commodities Markets) | |
| 1 | Complaint handling | |
| 1,1 | Complaint received in SCORES by the listed company | T day |
| 1.2 | Response to be obtained from Listed Company | T + 30 |
| 1.3 | If no response received, alert to Listed company in the form of reminder for Non – redressal of complaint | T+31 |
| 1.4 | Response to be obtained from Listed Company | T+60 |
- When a Broker defaults, the Exchange carries out the following steps for benefit of investor:
- Dissemination on Exchange website informing with regards to the default of the Broker
- Issue of Public Notice informing declaration of default by a Broker and inviting claims within specified period
- Intimation to clients of defaulter stock brokers via Emails and SMS for facilitating lodging of claims within specified period
- Following information made available on Exchange Website for information of Investors
- Norms for eligibility of claims for compensation from IPF.
- FAQ on processing of investors’ claims against Defaulter Broker
- Form for lodging claim against defaulter Broker
- Standard Operating Procedure (SOP) for handling of Claims of Investors in the Cases of Default by Brokers
- Provision to check online status of claims on Exchange Website
Read more…
- Standard Operating Procedure (SOP) for Handling of Claims of Investors in the Cases of Default by Stock Brokers
| Sr. No. | Action | Timeline |
|---|---|---|
| Disablement of the Stock Broker | T day | |
| Pre-filled forms to be sent to clients providing information regarding balances with the stock broker | T+30 days | |
| Claim lodgement Clients to fill the claim form and provide the supporting documents | Within 30 days of receipt of pre-filled form However, client can lodge claims till the end of 3 years from the date of the public notice provided | |
| Processing of claims and auditing of claims | Within 60 days of receipt of the claim form from the clients. | |
| Declaration of stock broker as defaulter | Within 90 days from date of disablement (on account of triggering of SOP) (T+90 days) | |
| Public Notice regarding declaration of defaulter | Within 3 working days from the date of declaration of defaulter | |
| Approval of the claim (by IPF Trust on the basis of recommendation of MCSGFC and Intimation to the clients regarding admissibility of the claim and disbursal of the eligible amount | Within 15 days of declaration of default |
