HIGHLIGHTS:
• Chairperson of SEBI, has inaugurated the ‘Manthan’ ideathon
• It has been launched to foster innovation in the securities markets
• The top ten winners of the ideathon stand would get cash prizes worth Rs 5,00,000
Madhabi Puri Buch, the Chairperson of SEBI, has inaugurated the ‘Manthan’ ideathon to foster innovation. The top ten winners of the ideathon stand would get cash prizes worth Rs 5,00,000
Overview:
India is ideally positioned to develop and apply technology in the securities market sector in order to provide tailored solutions at a low cost to every citizen in the country.
After Buch stated that the implementation of financial technology (FinTech) in India’s securities market offered a big opportunity for stakeholders, the ideathon was established.
Manthan’s Background
Manthan will take place during a six-week period. SEBI, in partnership with the NSE, BSE, CDSL, NSDL, CAMS, KFintech, MCX, and LinkInTime, is hosting the event.
This event will aid in the development of a variety of creative solutions and ideas centred on the country’s securities industry. Through a hackathon, the many viable concepts that would emerge from Manthan could be enhanced into numerous prototypes and possibilities.
Interested parties can register for this ideathon on the website ‘https://manthan.devfolio.co’ from the 30th of March to the 14th of May. The top ten winners of the ideathon will receive cash prizes worth Rs 5,00,000 each.
The ideathon will host a number of events
There will be interactive knowledge-sharing sessions for all registered participants during this ideathon. It will be conducted via webinars in order to facilitate the submission of creative ideas.
FinTech can assist with financial inclusion
FinTech may enhance the country’s financial inclusion by making services more affordable, standardising financial services, and making them more accessible to the general public.
In addition, supervisory technology (SupTech) and regulatory technology (RegTech) will aid in the effective regulation of the market while also lowering compliance costs for market participants.
