The National Stock Exchange (NSE) on April 28, 2026, issued the Master Circular for Investor Grievance Redressal Mechanism.
The following has been stated:
• The NSE issued a Master Circular consolidating all existing guidelines on investor grievance redressal and dispute resolution into a single framework. It mandates that investors first approach the concerned entity (such as brokers or companies), and if unresolved, file complaints on SCORES 2.0 within one year. Entities shall resolve complaints within 21 days, followed by a two-level review mechanism involving the Exchange and SEBI if needed. Unresolved cases can be escalated to the SMART ODR portal, which provides a structured process of pre-conciliation, conciliation, and arbitration with defined timelines.
• The circular also strengthens compliance requirements for stockbrokers, including mandatory disclosure of grievance mechanisms, maintenance of proof for trades, and publication of complaint data.
• It prescribes penalties for non-compliance, including fines and restrictions, and strict action against listed companies for failure to resolve complaints, such as daily fines and freezing of promoter holdings.
• Additionally, it introduces measures like a helpdesk portal, an IRRA platform for emergency trading access, and centralized reporting systems, thereby ensuring a more transparent, efficient, and time-bound grievance redressal mechanism.
[Notification no. - NSE/ISC/73908]
