“Manthan” – SEBI Ideathon to Promote Securities Market Innovation
At a gathering held in Mumbai today, Ms. Madhabi Puri Buch, Chairperson of SEBI, announced the inauguration of “Manthan” – SEBI Ideathon. Ms. Buch, who kicked off the Ideathon, stated that the implementation of Financial Technology (FinTech) in the securities market provides tremendous prospects for all parties involved.
FinTech adoption can help democratise financial services by making them cheaper and more accessible to the general public, establishing the groundwork for financial inclusion. Similarly, Regulatory Technology (RegTech) and Supervisory Technology (SupTech) offer prospects for effective market regulation while minimising market players’ compliance costs. Ms. Buch stated that, because to a long history of entrepreneurship and creativity, India is ideally positioned to use technology in the securities market to give tailored solutions at a cheap cost to individuals throughout the country.
Through the sandbox architecture, which allows access to numerous test settings, SEBI has already made it easier for the market and entrepreneurs to test new ideas. Another step in this way is the Ideathon. Ms. Buch added that the focus of Manthan is on ideation, that SEBI believes that every single proposal is worth analysing, and that participants are encouraged to bring forth any concept, even if it is not immediately feasible.
SEBI Whole-time Members, Executive Directors, members of various SEBI committees, and officials from Market Infrastructure Institutions (MIIs) and Regional Trading Authorities (RTAs) also attended the launch event, expressing their enthusiasm for the role that Ideathons and Hackathons can play in fostering innovation.
SEBI, in collaboration with BSE, NSE, NSDL, CDSL, KFintech, CAMS, LinkInTime, and MCX, is hosting a 6-week Ideathon to foster innovation in the securities industry. Manthan will help to create a pool of new ideas and solutions centred on the securities industry. Working concepts originating from Manthan may be translated into possibilities and prototypes in the future through a Hackathon.
In order to support the submission of powerful and really new ideas, interactive knowledge exchange sessions will be held for registered participants through webinars as part of the Ideathon. The Ideathon’s top ten winners will each get a cash award of Rs. 5,00,000/-.
Registration will be open from March 30, 2022 until May 14, 2022. All interested parties should visit https://manthan.devfolio.co/ to register.
Regards
CS Devyani Khambhati
+91-9825612234
Estabizz Fintech Private Limited
