Capital market regulator Sebi plans to bring out a mobile application to increase financial literacy among the public for which it will garner ideas from students.
Sebi which has been looking at ways to leverage technology and social media for its financial literacy and investor awareness campaigns, will hold an all India contest for students to create mobile applications.
Sources said recommendations on development of mobile application for investor awareness was put before the IPEF (Investor Protection and Education Fund) advisory committee which has "appreciated" the suggestion.
For creating an application that would cater to investors education and awareness across the country, the Securities and Exchange Board of India will organise a contest which will see students competing to develop the said application, they said. Sebi is planning to initiate campaigns through mobile and Internet platforms besides collaborating with industry bodies in the next financial year, 2014-15, starting April 1.
Since December 2012, it has been carrying out investors protection and education activities through mass media.
The market regulator's campaigns through mass media touch up on issues related to investors grievance redressal mechanism and Collective Investment Schemes (CIS).
According to Sebi, investor education campaigns help in developing wide and deep markets as well as increase the investor base.
Sebi uses suitable mix of media vehicles like television, radio and newspapers to reach maximum investors across the country in 13 major languages.