On Thursday, the Securities and Exchange Board of India (Sebi) launched the Document Number Verification System (Sebi-DNVS) to ensure the transparency and verifiability of documents issued by the market regulator.
Anyone who receives a notice, summons, show-cause notice, or letter from Sebi will be able to confirm whether the document was issued by the regulator.
Such communications will be assigned a 'outwards number' for the process.
Verification is only possible after authentication with a one-time password generated on the recipient's mobile number. However, the verification process will not reveal the letter or notice's contents.
Sebi warns NSDL for compliance with centralized database
After examining the centralized database for corporate bonds and debentures, Sebi issued an administrative warning to the National Securities Depository (NSDL).
According to a statement released on April 2, the market regulator has instructed NSDL to make the necessary corrections and finish the synchronization of the entire database by June 30 after consulting with Central Depository Services (CDSL).
Sebi cautioned it to exercise caution going forward and raise compliance standards to prevent recurrence; if this doesn't happen, action may be taken.
