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SEBI Launches Manthan Ideathon To Promote FinTech Adoption
Securities and Exchange Board of India
The Securities and Exchange Board of India (SEBI) has announced the launch of ‘Manthan’, an Ideathon for supporting new ideas and innovations in the securities market.
New Delhi: The Securities and Exchange Board of India (SEBI) has announced the launch of 'Manthan', an Ideathon for supporting new ideas and innovations in the securities market. The initiative was launched by Ms. Madhabi Puri Buch, Chairperson, SEBI, in Mumbai on Wednesday.
According to the announcement, SEBI has tied up with other market infrastructure institutions and QRTAs to launch Manthan which aims to highlight that adoption of Financial Technology (FinTech) in the securities market presents significant opportunities for stakeholders.
The latest Ideathon by SEBI will be a 6-week long program in association with BSE, NSE, NSDL, CDSL, KFintech, CAMS, Link Intime and MCX to promote innovation in the securities market. Manthan will facilitate the creation of a pool of ideas and innovative solutions revolving around the securities market.
SEBI's Chairman Ms. Buch believes that India is well positioned to leverage technology in the securities market, to deliver customised solutions at very low costs, to individuals even in the nooks and corners of the country. At the launch, Ms. Buch stated that the focus of Manthan is on ideation, that it is SEBI's belief that every single idea is worth evaluating - participants are encouraged to bring out any idea, even those which may not be achievable immediately.
The participants will need to submit their ideas in a video format of maximum 5 minutes in length and the submission will be evaluated on criteria such as completeness, viability, functionality, Originality and impact. Anyone above the age of 16 can submit their ideas and the top 10 winners of the Ideathon stand to win cash prizes worth a total of Rs. 5,00,000.
The Manthan Ideathon will be based on four themes namely, Investor Education, Protection and ease of investing; Securities Market Development; Market Regulation and Integration within the Financial ecosystem.
