Annexure- A

Questionnaire for Investors

Tick [✓] wherever applicable

A. PERSONAL DETAILS
Name (Optional) ……………………………………………………………………….

Address ………………………………………………………………………………...

City: …………………………….Dist.: ……………………..State: …………………...

Phone: ……………………Mobile …………………………….Email:……………….

Occupation:

[ ] Student [ ] Shopkeeper [ ] Service

[ ] Business [ ] Pensioner / Retired [ ] Any other please specify …

4. What is the range of your monthly income in ?

[ ] Below 5000 [ ] 5000-10,000 [ ] 10000- 20,000

[ ] 20,000-40,000 [ ] 40000-70,000 [ ] 70000-100,000
[ ] Above 1 lakh

5. Education:

[ ] Non-Matric [ ] Graduate [ ] Any other, please specify …

[ ] SSC /Plus 2 [ ] Post-graduate/professional

B. PERSONAL FINANCE

6. Do you invest in Securities Market?

[ ] Yes [ ] No If yes, then proceed further.

7. You currently have investments in (Rank in order of investment) (Give rank 1 to maximum
investment)

[ ] NSC [ ] Deposits with Post Offices [ ] Life Insurance

[ ] Saving Bonds [ ] PSU Bonds [ ] FDRs with Bank
[ ] Company Deposits [ ] Mutual Funds [ ] Equity Shares
[ ] Derivatives [ ] Any other pl. specify

8. Which of the following categories of shares are held by you? Rank in order of value of holding,
rank 1 for maximum holding.

[ ] Sensex/ Nifty Index Shares [ ] Others regularly traded shares

[ ] Thinly traded shares [ ] Illiquid shares (which are not being traded)
[ ] Z Group / T group shares [ ] Suspended
[ ] De-listed [ ] Un-listed

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9. The shares held by you are in which form? (please specify % wise holding)

[ ] demat form--------------% [ ] physical form-----------% [ ] Can’t say

10. Do you agree with the statement that there is a need to increase the Investment limit of 1 lakh for
the retail investor in securities transactions? (Tick any one)

[ ] Strongly Agree [ ] Agree [ ] Can’t say [ ] Disagree [ ] Strongly Dis-agree

11. If yes, then what should be the limit for investment by Retail investors? (Tick any one)

[ ] Up to 2 lakhs. [ ] Up to 3 lakhs [ ] Up to .5 lakhs

[ ] Above 5 lakhs [ ] Any other please specify ……………………….

C. PRIMARY MARKETS

12. How frequently do you trade in primary market?

[ ] Always [ ] Frequently [ ] Occasionally [ ] Rarely [ ] Never

13. What problems do the investors face while applying in IPOs ?

[ ] Delay in receipt of Refunds/ allotment [ ] Application form too cumbersome

[ ] Shares are not credited in demat account [ ] Any other please specify …………
[ ] Wrong credit of shares

14. Do you know that SEBI has allowed mandatory credit rating for IPOs?

[ ] Yes [ ] No

15. If yes, do you agree that the decision of SEBI would protect the interest of the Retail Investors?

[ ] Strongly Agree [ ] Agree [ ] Can’t say [ ] Disagree [ ] Strongly Disagree

16. Which are the grey areas in the primary market? (Rank according to the gravity. Rank 1 for
maximum gravity.)

[ ] Non-receipt of IPO refunds [ ] Inadequate disclosures

[ ] Favours institutional investors only [ ] Non-availability of Collection Centres
[ ] Quota for Retail Investors in IPO is very low [ ] Any other, please specify………
[ ] Issue price is arbitrary and exorbitant

17. Are you satisfied with the reforms initiated by SEBI in primary market for safeguarding the
interests of retail investors?

[ ] Highly Satisfied [ ] Satisfied [ ] Can’t say

[ ] Dissatisfied [ ] Highly Dissatisfied

18. Are you satisfied with the present system of Book Building wherein a price band is fixed for an
IPO in which free pricing is allowed?

[ ] Highly Satisfied [ ] Satisfied [ ] Can’t say

[ ] Dissatisfied [ ] Highly Dissatisfied

19. Whom do you consider more responsible for disclosures in offer document? Rank 1 for highest
responsibility.

[ ] Company Management [ ] Credit Rating Agency [ ] Any other, pl. specify .

[ ] Merchant Bankers [ ] Stock Exchanges
[ ] SEBI [ ] Registrar of Companies

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20. Do you agree that a Merchant Banker should safeguard the interest of retail investors in an IPO
and ensure proper disclosures by the company?

[ ] Strongly Agree [ ] Agree [ ] Can’t say

[ ] Disagree [ ] Strongly Disagree

D. SECONDARY MARKETS

21. How frequently do you trade in secondary market?

[ ] Daily [ ] Once a week [ ] Once a fortnight

[ ] Once a month [ ] Occasionally

22. What according to you are the grey areas in secondary market? (Rank in order of gravity. Rank 1
for maximum gravity)

[ ] Delay/ non-credit of shares in demat account [ ] Non-receipt of statement of account

[ ] Non-receipt of contract notes [ ] Manipulation in account statement
[ ] Excess levy of brokerage [ ] Brokers not giving right advice
[ ] Trading without consent [ ] Any other, please specify …………
[ ] Delay/ non-receipt of payment

23. What steps should SEBI take in order to check the practice of delay/ non-credit of shares in demat
account/fund by the brokers? Rank in order of importance, Rank 1 for the most important.

[ ] Direct credit by Stock Exchange [ ] Settlement system should be reduced to T+1

[ ] Broker should be penalized by the S.E. [ ] Any other, please specify…………
[ ] Frequent inspection of Brokers/Sub-brokers

24. Are you satisfied with the present system of Settlement of Securities & Funds in trading of shares?

[ ] Highly Satisfied [ ] Satisfied [ ] Can’t say [ ] Dis-satisfied [ ] Highly Dis- Satisfied

25. Do you agree wit the statement that Screen Based Trading has brought transparency in Securities
Market?
[ ] Strongly Agree [ ] Agree [ ] Can’t say [ ] Disagree [ ] Strongly Disagree

26. Do you agree that volatility in Indian Securities Market is scaring away retail investors?

[ ] Strongly Agree [ ] Agree [ ] Can’t say [ ] Disagree [ ] Strongly Disagree

27. Whom do you hold responsible for excess volatility (Rank in order of degree. Rank 1 for
maximum degree)

[ ] Introduction of Screen Based Trading [ ] Expansion of trading Network

[ ] Influence of Foreign Institutional Investors [ ] Concentration of trading in few Stock Exchanges
[ ] SEBI’s Policies [ ] Excess Liquidity
[ ] Changed pattern of investment by Investors [ ] Any other, please specify……………..

E. INVESTORS COMPLAINTS

28. What problems do you face against listed companies? (Rank in order of gravity of problem. Rank
1 for maximum gravity.)

[ ] Non-receipt/ delay in Dividend Warrants [ ] Non-dematerialization of shares

[ ] Delay in Transfer of shares [ ] Delay in publishing price sensitive information
[ ] Delay/ non-publication of Results [ ] Delay in refund orders/ allotment advice

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 [ ] Non receipt of offer for right issues [ ] Any other, please specify …………
[ ] Non-receipt / delay of Annual Reports/ Notices
29. What problems do you face as a client from a broker/sub-broker? (Rank in order of gravity of problem.
Rank 1 for maximum gravity.)

[ ] Non-receipt of Contract Notes [ ] Non-receipt of sale proceeds of shares

[ ] Non-credit of shares in account [ ] Charging of excess brokerage
[ ] Delay in execution of orders [ ] Manipulations in a/c statement
[ ] Wrong advice to Investors [ ] Any other, please specify…………
[ ] Non-receipt of transaction statements

30. What problems do you face as a client from a DP/ depository (NSDL/CDSL)? (Rank in order of gravity of
problem. Rank 1 for maximum gravity.)

[ ] Demat charges are too high [ ] Wrong credit of shares

[ ] Delay in demat of shares. [ ] Non-availability of online DP services
[ ] Unauthorized debit / credit to a/c [ ] Any other, please specify……………
[ ] Non-dispatch of holding/transaction statements

31. What complaints do you have against SEBI? (Rank in order of gravity. Rank 1 for maximum gravity.)

[ ] Over regulation of Stock Markets [ ] Inadequate efforts toward Investors education

[ ] Delay in resolving of complaints [ ] Improper services in remote areas
[ ] No protection against fly by nights operators [ ] Any other, please specify……………
[ ] Frequent changes in policies

32. Have you ever lodged any complaint? If yes, what has been your nature of complaint? There can be more
than one answer. Pl. tick, whichever is applicable.

[ ] Non-Receipt of Interest/ Dividend/ Rights/ Bonus [ ] Non-transfer of shares(in physical mode)

[ ] Demat charges are too heavy [ ] Manipulation in account statement by broker
[ ] Brokerage commissions are too high [ ] Broker’s service is bad
[ ] Contract notes not received/ received late) [ ] Delay in credit of shares in demat a/c
[ ] Shares sale proceeds do not come to you in time. [ ] Any other please specify………

F. GRIEVANCE REDRESSAL MECHANISM

33. Which of the following are the right authorities for redressal of your grievances? Please tick
whichever is applicable. There may be more than one authority.

[ ] Stock Exchanges [ ] Ministry of Corporate affairs [ ] Reserve Bank of India

[ ] SEBI [ ] Consumer Courts [ ] Securities Market Ombudsman
[ ] Registrar of Companies [ ] Investment Associations [ ] Any other, please specify…….

34. Are you satisfied with the present system of Grievance Redressal Mechanism in Stock
Exchanges/SEBI etc. relating to trading in shares?

[ ] Highly Satisfied [ ] Satisfied [ ] Can’t say [ ] Dissatisfied [ ]Highly Dissatisfied

35. Which of the following measures need to be taken by SEBI to improve Grievance Redressal
Mechanism for Retail Investors? Rank in order of importance. (Rank 1 for most important.)

[ ] Stock Exchanges to set up Investor Service Centres in all major cities with requisite infrastructure.
[ ] Retail investors should be given training by the Investor Services Centres before trading.
[ ] BSE and NSE should set up Regional Investor Service Centres in major cities.
[ ] SEBI should strengthen its regional offices with more powers and requisite infrastructure.
[ ] SEBI to give more powers to registered Investors’ Associations
[ ] Regular meeting with Investors and Investment Associations
[ ] Any other, please specify………………

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36. Have you ever made complained to SEBI/ Stock Exchange/ any market intermediary like Share
Transfer Agent etc.?

[ ] Yes [ ] No

37. If yes, what has been your experience with SEBI / Stock Exchanges with regard to your complaint?

[ ] Excellent [ ] Good [ ] Can’t comment [ ] Fair [ ] Poor

38. Do you agree that there are number of market regulators in Indian Securities Market which has
made the Complaining process more complex?

[ ] Strongly Agree [ ] Agree [ ] Can’t say [ ] Disagree [ ] Strongly Disagree

39. Do you think the authorities like Stock Exchanges/SEBI are receptive to the retail investors’
complaints?

[ ] Strongly Agree [ ] Agree [ ] Can’t say [ ] Disagree [ ] Strongly Disagree

40. Are you satisfied with the time taken by the various authorities for the redressal of your complaint?

[ ] Highly Satisfied [ ] Satisfied [ ] Can’t say [ ] Dissatisfied [ ] Highly Dissatisfied

G. INVESTOR PROTECTION AND CORPORATE GOVERNANCE

41. What is the best solution to protect investors’ interest? (Rank in order of importance. Rank 1 for
important solution.)

[ ] Brokers and other intermediaries should be more compliant to regulatory provisions.

[ ] Defaulters should be severely and speedily punished.
[ ] Improve management and internal controls in companies
[ ] Greater Awareness needs to be created amongst investors on a regular basis
[ ] SEBI to periodically publish the compliant and non-compliant companies
[ ] Companies need to be educated to follow Corporate Governance Norms in letter and spirit.
[ ] Any other suggestion……………………

42. Do you read and examine the Annual Reports/ Quarterly Results of the companies.

[ ] Yes [ ] No

43. Are you satisfied with the disclosures like Annual Reports and quarterly results made by the listed
companies on the websites of BSE and NSE? Please give your response as under:

[ ] Highly satisfied [ ] Satisfied [ ] Can’t say [ ] Dissatisfied [ ] Highly dissatisfied

44. Do you think Annual Reports provide you the actual financial details of the company? (Please tick
whichever is applicable)

[ ] Yes, all the information given in Annual Report is worth and factual.
[ ] No, the information is almost 4-5 months late after the cut off date of closure of financial year.
[ ] Information provided hides more and reveals less.
[ ] These are mere window dressing and confuse the investors.
[ ] Information provided is deliberately distorted and misleading.
[ ] Too much (irrelevant )of information is provided that creates confusion.
[ ] Any other, please specify………………

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45. Do you agree that the Corporate Governance Clause has brought more transparency in listed
companies?

[ ] Strongly Agree [ ] Can’t Say [ ] Agree [ ] Disagree [ ] Strongly Disagree

46. Do you agree that induction of Independent Directors on the Governing Board of listed companies
will bring more professionalism?

[ ] Strongly Agree [ ] Can’t Say [ ] Agree [ ] Disagree [ ] Strongly Disagree

H. INVESTOR EDUCATION

47. Are you aware of Securities Market Awareness Campaign (SMAC) launched by SEBI for
educating the masses through organizing investors’ workshops?

[ ] Yes [ ] No

48. If yes, have you attended any workshop organized by any Stock Exchange/SEBI or any other
regulatory body under SMAC?
[ ] Yes [ ] No

49. Are you satisfied with the efforts of Stock Exchanges and SEBI for organizing workshops under
SMAC?

[ ] Highly Satisfied [ ] Satisfied [ ] Can’t say

[ ] Dissatisfied [ ] Highly Dissatisfied

50. Which of the following measures are required to educate the Retail Investors? (Rank in order of the
importance. Rank 1 in for the most significant measure.)

[ ] Frequent programmes through media

[ ] Active role of print media
[ ] Strengthening of Regional Offices of SEBI / Stock Exchanges
[ ] Arranging more investor seminars in smaller towns
[ ] Providing more educative literature in local language.
[ ] Investor education be introduced at the school/ college level.
[ ] Any other, please specify…………………

Name-----------------------------------------------
Address-------------------------------------------

Signatures -------------------------------------

Date:
Place:

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 Annexure – B

Questionnaire for officials of Stock Exchanges/ RTAs/

SEBI and other Market Intermediaries
(Research Project on Protection and Grievance Redressal Mechanism for Retail Investors:
A Case Study of Indian Securities Market.)

S. No…………….
Please Tick [✓] wherever applicable

A. PERSONAL DETAILS

1. Name (Optional) Mr./Ms.………………………………………………………………

2. Name of the Exchange / Organization…………………………………………………

Address
……………………………………………………………………………………..
City:………………………….Dist.:……………………….State:………………

4. Contact Nos. …… ……………….Mobile ………………Email……………………

5. Which of the following functions/department, are you associated with?

[ ] Legal [ ] Investor Services Cell [ ] Any other pl. specify

[ ] Depository Services [ ] Trading Operations [ ] Company Listing
[ ] Training & Education

6. Designation/ Post in the department/ organization

[ ] Sr. Assistant [ ] Officers/ Executive [ ] Manager /Sr. Manager

[ ] General Manager [ ] CEO/ MD [ ] Any other, please specify

B. PRIMARY MARKETS

7. Are you satisfied with the reforms initiated by SEBI in Primary Market for safeguarding the interest
of Retail Investors?

[ ] Highly Satisfied [ ] Satisfied [ ] Can’t Say

[ ] Dissatisfied [ ] Highly Dissatisfied

8. If not satisfied, what reforms do you think are required for primary market? Rank in order of
importance. (Rank 1 for the most important reforms).

[ ] Quota for retail investors should be increased in IPOs.

[ ] Disclosures in the prospectus be more comprehensive.
[ ] Pricing of IPOs should not be arbitrary.
[ ] Refunds should be dispatched at the earliest.
[ ] Application forms be made simple.
[ ] More collection centres be added.
[ ] On-line applications be introduced.
[ ] Any other, please specify. …………………

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9. Are you satisfied with the present system of Book Building wherein a price band is fixed for an
IPO?

[ ] Highly Satisfied [ ] Satisfied [ ] Can’t Say

[ ] Dissatisfied [ ] Highly Dissatisfied

10. SEBI has recently introduced mandatory credit rating for IPOs. Do you agree that this decision of
SEBI to introduce mandatory Credit Rating would protect the interest of the retail investors?

[ ] Strongly Agree [ ] Agree [ ] Can’t Say

[ ] Disagree [ ] Strongly Disagree

11. Do you agree that insurance against losses in IPOs applications would help primary market?

[ ] Strongly Agree [ ] Agree [ ] Can’t Say

[ ] Disagree [ ] Strongly Disagree

12. Whom do you consider more responsible for disclosures in offer document? (Rank 1 for the most
responsible authority.)

[ ] Company Management [ ] Merchant Bankers [ ] Registrar of Companies

[ ] SEBI [ ] Stock Exchanges [ ] Any other, please specify …..
[ ] Credit Rating Agency

13. Do you agree that a Merchant Banker should safeguard the interest of retail investors in an IPO
and ensure proper disclosures by the company?

[ ] Strongly Agree [ ] Agree [ ] Can’t say

[ ] Disagree [ ] Strongly Disagree

14. What according to you are grey areas in the primary market? (Rank according to the gravity. Rank
1 for maximum gravity.)

[ ] Non-receipt/ Delay of IPO refunds [ ] Inadequate disclosures

[ ] Favours institutional investors only [ ] Non-availability of Collection Centres
[ ] Quota for retail investors in IPO is very low [ ] Delay in credit of shares
[ ] Volatility post IPO is very high [ ] Any other, please specify………..
[ ] Issue price is arbitrary and exorbitant

C. SECONDARY MARKETS

15. Are you satisfied with the present system of Settlement of Securities & Funds in trading of shares?

[ ] Highly Satisfied [ ] Satisfied [ ] Can’t Say

[ ] Dissatisfied [ ] Highly Dissatisfied

16. Do you agree that Screen Based Trading has brought transparency in Securities Market?

[ ] Strongly Agree [ ] Agree [ ] Can’t Say

[ ] Disagree [ ] Strongly Disagree

17. What steps SEBI should take in order to check the practice of delay/ non-credit of shares in demat
account/fund by broker? (Rank in order of significance. Rank 1 for the most significant step.

[ ] Direct credit by Stock Exchange [ ] Settlement system should be reduced to T+1

[ ] Broker be penalized by the Exchanges [ ] Any other, please specify …….
[ ] Frequent inspection of Brokers/Sub-brokers

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18. Whom do you hold responsible for excess volatility? (Rank in order of degree. Rank 1 for most
responsible area.)

[ ] Introduction of Screen Based Trading [ ] Expansion of trading Network

[ ] Influence of Foreign Institutional Investors [ ] Concentration of trading in few S. E.
[ ] SEBI’s Policies [ ] Excess Liquidity
[ ] Changed pattern of investment by investors [ ] Any other, please specify

19. Do you agree volatility in Indian Securities Market is scaring away retail investors?

[ ] Strongly Agree [ ] Agree [ ] Can’t Say

[ ] Disagree [ ] Strongly Disagree

20. Which are the grey areas in secondary market? (Rank in order of gravity. Rank 1 for highest
gravity.)

[ ] Delay/ non-credit of shares in demat account [ ] Non receipt of statement of accounts

[ ] Non receipt of contract notes [ ] Manipulation in account statement
[ ] Excess levy of brokerage. [ ] Brokers not giving right advice
[ ] Trading without consent on Investors [ ] Any other, please specify …….
[ ] Delay/ non receipt of payment

D. GRIEVANCES REDRESSAL MECHANISM

21. What complaints are generally reported by the Retail Investors against the listed companies? (Rank
the complaint in order of number of complaints received. Rank 1 for maximum number of
complaints.)

[ ] Non-receipt/ delay in Dividend Warrants [ ] Non-dematerialization of shares

[ ] Delay in Transfer of shares [ ] Delay in publishing price sensitive information
[ ] Delay/ non-publication of Results [ ] Delay in refund orders / allotment advice
[ ] Non receipt of offer for right issues [ ] Any other, please specify ……….
[ ] Non-receipt/ delay of Annual Reports/ Notices

22. What sort of problems according to you, the retail investors face as clients of the broker/ sub-
broker? (Rank in order for gravity of problem. Rank 1 for maximum gravity).

[ ] Delay/ non-receipt of Contract Notes [ ] Delay/ non-receipt of sale proceeds of shares

[ ] Delay/ non-credit of shares in account [ ] Charging of excess brokerage
[ ] Delay in execution of orders [ ] Manipulations in a/c statement.
[ ] Wrong advice to Investors [ ] Any other, please specify ……….
[ ] Delay/ non-receipt of transaction statements

23. What sort of problems according to you, the retail investors face as a client of a DP/ depository?
(Rank in order of gravity of problem. Rank 1 for maximum gravity.)

[ ] Demat charges are too high [ ] Wrong Credit of Shares

[ ] Delay in demat of shares. [ ] Non-availability of online DP services
[ ] Un-authorized debit / credit to a/c [ ] Any other, please specify …….
[ ] Non-dispatch of holding/transaction statements

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24. Which of the following measures are required needed to be taken by SEBI to improve Grievance
Redressal Mechanism for Retail Investors? (Please tick whichever is applicable. You can tick more
than one.)

[ ] Stock Exchanges to setup Investor service centers in all major cities with requisite infrastructure.
[ ] Retail investors should be given training by the Investor Services Centres before trading.
[ ] BSE and NSE should set up Regional Investor Service Centres in major cities.
[ ] SEBI should strengthen its regional offices with more powers and requisite infrastructure.
[ ] SEBI to give more powers to registered Investors Associations.
[ ] Regular meeting with investors and Investment Associations
[ ] Any other, please specify …….

25. Do you agree that there are number of market regulators in Indian Securities Market which has
made the complaint redressal mechanism more complex?

[ ] Strongly Agree [ ] Agree [ ] Can’t Say

[ ] Disagree [ ] Strongly Disagree

26. Are you satisfied with the existing Grievances Redressal Mechanism and time taken by the various
authorities to redress the grievances of Retail Investors.

[ ] Highly Satisfied [ ] Satisfied [ ] Can’t Say

[ ] Dissatisfied [ ] Highly Dissatisfied

27. If not, what efforts be made by SEBI and Government of India for protecting retail investors and
ensuring a fair, transparent and time-bound grievance redressal mechanism?

[ ] The company having long pending complaints be penalized by both Exchanges & SEBI.
[ ] The promoters of the erring companies be debarred from entering capital market.
[ ] Separate judicial system forum be made for Investor Complaints in securities market.
[ ] Separate Investor Protection Act should be enacted.
[ ] Time bound complaint redressal should be ensured.
[ ] Investor associations should be given wide representation on the Board of companies.
[ ] Any other please specify……………….

E. INVESTOR PROTECTION AND CORPORATE GOVERNANCE

28. Do you agree with the statement that reforms initiated in Capital Market have resulted into
reduction of scams?

[ ] Strongly Agree [ ] Agree [ ] Can’t Say

[ ] Disagree [ ] Strongly Disagree

29. Whom do you hold responsible for the Vanishing Companies? (Rank according to gravity of
situation. Rank I for maximum gravity.)

[ ] Promoters of company [ ] Directors of company [ ] Regulatory framework

[ ] Professionals advisers [ ] Merchant Bankers [ ] Any other, please specify…..

30. What steps should be taken by SEBI to curb the menace of Vanishing Companies?

[ ] Promoters should be booked.

[ ] License of concerned merchant banker be cancelled.
[ ] The Board of the companies be held liable .
[ ] Property of Company / director be attached
[ ] Any other, please specify…………………

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31. Are you satisfied with the disclosures like Annual Reports and quarterly results made by the listed
companies? Kindly give your comments as under:

[ ] Highly Satisfied [ ] Satisfied [ ] Can’t say

[ ] Dissatisfied [ ] Highly Dissatisfied

32. Do you think Annual Reports provide the actual financial details of the company? (Please tick
whichever is applicable)

[ ] Yes, all the information given in Annual Report is worth and factual.
[ ] No, the information is almost 4-5 months late after the cut off date of closure of F.Y.
[ ] Information provided hides more and reveals less.
[ ] These are mere window dressing and confuse the investors.
[ ] Information provided is deliberately distorted.
[ ] Too much of information is provided that causes confusion.
[ ] Any other, please specify …….

33. Do you agree that the Corporate Governance Clause has brought more transparency in the
functioning of listed companies?

[ ] Strongly Agree [ ] Agree [ ] Can’t Say

[ ] Disagree [ ] Strongly Disagree

34. Do you agree that induction of Independent Directors on the Governing Board of listed companies
will bring more professionalism and transparency?

[ ] Strongly Agree [ ] Agree [ ] Can’t Say

[ ] Disagree [ ] Strongly Disagree

35. Which is the best solution to protect investors’ rights? (Rank in order of importance. Rank 1 for
best solution.)

[ ] Brokers and other intermediaries should be more compliant to regulatory provisions.

[ ] Defaulters should be punished severely and speedily.
[ ] Improve management and internal controls in companies.
[ ] Regular efforts need to be made to spread awareness among investors.
[ ] SEBI to periodically publish compliant and non-compliant companies
[ ] Companies need to be educated to follow Corporate Governance Norms in letter and spirit.
[ ] Any other suggestion ………………………………………………….

F. INVESTOR EDUCATION

36. Are you satisfied with the efforts made by Stock Exchanges and SEBI for organizing workshops
under Securities Market Awareness Campaign (SMAC)?

[ ] Highly Satisfied [ ] Satisfied [ ] Can’t Say

[ ] Dissatisfied [ ] Highly Dissatisfied

37. Which of the following steps are required to educate the Retail Investors? (Rank in order of
importance. Rank 1 for the most important step.)

[ ] Frequent programmes through media

[ ] More active role of print media
[ ] Strengthening of Regional Offices of SEBI
[ ] Strengthening Regional Offices of Stock Exchanges
[ ] Arranging more investor seminars in smaller towns
[ ] More educative literature in local language
[ ] Imparting knowledge at school/ colleges level
[ ] Any other, please specify …….

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G. MISCELLANEOUS

38. Do you agree that the limit of Investment of 1 lakh by retail investor in securities transactions
needs to be increased?

[ ] Strongly Agree [ ] Agree [ ] Can’t say

[ ] Disagree [ ] Strongly Disagree

39. If agreed, then what should be the limit for investment by retail investors?

[ ] Up to 2 lakh [ ] Up to 3 lakh [ ] Up to 5 lakh

[ ] beyond 5 lakh [ ] Any other, please specify………………

40. Please provide the data regarding the redressal rate of complaints in your department/division in
the following format? Attach a separate sheet if required.

Name of the Exchange/ Organization:

Name of the Department:

Name-----------------------------------------------
Address--------------------------------------------
---------------------------------------------
Signatures ----------------------------------------

Date:----------------------

Place: ---------------------

370