Investor Charter — Research Analysts

Last updated 21 September 2026 · Version 2026-09

Investor Charter in respect of Research Analysts, as specified by SEBI. Replace this summary with the latest Annexure text from the SEBI Master Circular for Research Analysts, verbatim.

Vision

Invest with knowledge and safety.

Mission

Every investor should be able to invest in the right investment products based on their needs, manage and monitor them to meet their goals, and access reports and enjoy financial wellness.

Details of business transacted by the Research Analyst

Publish research reports based on research activities.
Provide independent, unbiased views on securities.
Offer unbiased recommendations, disclosing financial interests in the recommended securities.
Provide research recommendations based on analysis of publicly available information and known observations.
Conduct audit annually.
Disclose the details of research on the website.

Services provided to investors

Onboarding: sharing terms and conditions, obtaining consent, collecting KYC.
Disclosures to clients: complete disclosures on the website and on each report; on terms of service, fees, conflicts, disciplinary history and holdings.
Distribution of research: research reports and views on securities, with records of research rationale.
Grievance handling within the timelines set by SEBI.

Grievance redressal mechanism

Investors can lodge a complaint with the Research Analyst directly, on SEBI SCORES (https://scores.sebi.gov.in), and thereafter on the Online Dispute Resolution portal (https://smartodr.in). Complaints not resolved within the prescribed time may be escalated as provided under the SEBI circulars on SCORES and ODR.

Rights of investors

Right to privacy and confidentiality.
Right to transparent practices.
Right to fair and equitable treatment.
Right to adequate information.
Right to initial and continuing disclosure.
Right to fair and true advertisement.
Right to be listened to and to fair, timely grievance redressal.
Right to exit from the service.
Right to provide feedback.

Expectations from investors (Do's and Don'ts)

Do: deal only with SEBI-registered Research Analysts; check registration and NISM certification; read the terms, MITC and disclosures; pay fees only through banking channels to disclosed accounts; keep records of communications; use the grievance mechanism if dissatisfied.

Don't: fall for assured or guaranteed returns; share trading credentials; accept research from unregistered persons or social-media handles; make payments to personal UPI IDs or cash.