The Securities and Exchange Board of India (Sebi) stated that the operationalization of the Geotagging Solution is anticipated for 2024–2024.
Additionally, the regulator plans to use technology to create a cyber capability index (CCI) that will be able to assess the cybersecurity readiness of Sebi as well as regulated firms in an objective manner.
Geotagging
The process of geotagging involves adding geographic data, typically in the form of latitude and longitude coordinates, to various types of material, including images, movies, etc.
In order to improve the efficiency of its enforcement actions, capital markets regulator Sebi wants to use a Geotagging system during the current fiscal year.
Sebi said it will work on a number of projects to increase its information technology (IT) capabilities and create a “fault-tolerant” architecture while putting a strong emphasis on technology.
The need of Geotagging
To better serve its stakeholders and advance its technology and cybersecurity capabilities, the shift is being made.
The regulator stated in its annual report for 2022–2024 that it plans to implement a Geotagging Solution in the coming year to strengthen the process of its enforcement activities.
The process of geotagging involves adding geographic data, typically in the form of latitude and longitude coordinates, to various types of material, including images, movies, etc.
In order to perform site inspections, surveys, and training sessions, the project plans to adopt geotagging technology-based mobile application solutions that assist the market regulator in taking the appropriate pictures or videos at the spot with information like the location, date, and time.
Use of Technology
In addition, Sebi intends to use technology to implement initiatives for business ease of doing.
To enable real-time verification of the data given by intermediaries, the capital markets regulator plans to combine its e-registration system with organisations like DigiLocker and the National Institute of Securities Market (NISM) using application programming interfaces (APIs).
In order to confirm the validity of documents and notices sent by Sebi, it is also thinking of launching an online document verification service.
In order to improve the efficiency of its enforcement actions, capital markets regulator Sebi wants to use a Geotagging system during the current fiscal year. Sebi said it will work on a number of projects to increase its information technology (IT) capabilities and create a “fault-tolerant” architecture while putting a strong emphasis on technology.
Aims of the Project
In order to perform site inspections, surveys, and training sessions, the market regulator will need to take the appropriate images or videos at the spot with information like the location, date, and time. The project aims to develop geotagging technology-based mobile application solutions.
The Securities and Exchange Board of India (Sebi) stated that the operationalization of the Geotagging Solution is anticipated for 2024–2024.
Additionally, the regulator plans to use technology to create a cyber capability index (CCI) that will be able to assess the cybersecurity readiness of Sebi as well as regulated firms in an objective manner.In addition, Sebi intends to use technology to implement initiatives for business ease of doing.
To enable real-time verification of the data given by intermediaries, the capital markets regulator plans to combine its e-registration system with organisations like DigiLocker and the National Institute of Securities Market using application programming interfaces.In order to confirm the validity of documents and notices sent by Sebi, it is also thinking of implementing an online document verification service.
