CDSL and NSDL launch new apps, e-voting will be easier

This will also enable them to cast their votes. This app is regulated by SEBI. Earlier, such a facility was mainly available for institutional investors. While retail investors had to visit the website of many proxy advisory firms for advice and recommendations before voting. Through this app, all small and big shareholders will be able to see the advice given by the expert and take appropriate decisions.

On this occasion, a microsite was also launched to provide information about the capital market to all small and big investors. This website is available in 7 regional languages, where complete information about the capital market and investment will be given by experts. Its main objective is to provide correct information about the market and make their investment easier for the growing young investors and women in the country.

Three firms, Stakeholders Empowerment Services, Institution Investor Advisory Services (IIAS), and In Governance Research, have a stake in this initiative. This firm facilitates professional evaluation of the proposals presented by the company management, which helps investors understand the value of their votes.

On the occasion of the launch of these two apps, SEBI Chairman Tuhin Kanta Pandey said that this initiative is a big step towards empowering retail investors. Shareholder voting is an important way to keep company management accountable, and collective retail investor participation can be powerful. Pandey said that SEBI is working to simplify the e-voting process, which was previously very complex and time-consuming. With this integrated and convenient single login system, the process will become easier.

According to NSDL data, in the last seven years, 72 percent of demat accounts in the country have been opened by youth between 18 and 35 years, while 80 percent of demat accounts are associated with Tier 1 and Tier 2, i.e., small cities. While 39 percent of demat accounts belong to women, who are between 26 and 45 years old. This shows how important it is to provide correct information about the market. Digitalisation has made investing easier, due to which investors are connecting with small towns and rural areas.