New Delhi [India], November 3 : The Securities and Exchange Board of India (SEBI) entered into a Memorandum of Understanding (MoU) with the Digital India BHASHINI Division (DIBD) on Tuesday to expand investor access across regional Indian languages, according to an official SEBI press release.
The pact establishes a formal framework for technological integration between the capital markets regulator and the central government division.
The regulatory pact came into effect immediately upon signing in the national capital, establishing a formal framework for technological integration between the capital markets regulator and the central government division.
The release added that the partnership "comes into force from today," formally setting in motion the integration of regional language translation tools across market regulatory operations.
DIBD is an independent division functioning under the aegis of the Digital India Corporation, a Section 8 not-for-profit company established by the Ministry of Electronics and Information Technology (MeitY), the release said.
The formal agreement was signed by Amitabh Nag, Chief Executive Officer of DIBD, and Sandip Pradhan, Whole Time Member of SEBI. Senior officers from both institutions attended the signing ceremony to formalize the administrative partnership.
Under the terms detailed in the release, the partnership allows the securities regulator to implement specialized technological infrastructure across its public-facing operations.
The MoU will enable SEBI to leverage BHASHINI's language translation APIs, models and tools, including Automatic Speech Recognition (ASR), Text-to-Speech (TTS), Machine Translation and Optical Character Recognition (OCR), to facilitate access to SEBI's services in regional Indian languages, the release stated.
It will also facilitate the enhancement of BHASHINI's language models with securities market-related terminology. This marks the beginning of enhanced cooperation between SEBI and DIBD, the release added.