Sebi earmarks Rs 5 bn for upgrading surveillance to tackle mkt manipulators

To tighten the noose around market manipulators, the Securities and Exchange Board of India (Sebi) has earmarked Rs 5 billion for upgrading its surveillance and network monitoring systems.

The markets regulator is planning to rope in an information technology (IT) provider for implementing an integrated market surveillance system (IMSS) through a centralised monitoring system that will operate round the clock.

The IT provider will have to set up entirely new systems and carry out exhaustive data analysis. The IT vendor will be initially contracted with Sebi for a period of three years.

A regulatory source confirmed the information. However, an email sent to