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Consider the following statements regarding the Investor Risk Reduction Access platform:
- It has been designed to reduce risks for investors participating in the market.
- It is developed by the Reserve Bank of India.
Which of the statements given above is/are correct?
- a)1 only
- b)2 only
- c)Both 1 and 2
- d)Neither 1 nor 2
Correct answer is option 'A'. Can you explain this answer?
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Most Upvoted Answer
Consider the following statements regarding the Investor Risk Reductio...
Statement 1: The Investor Risk Reduction Access (IRRA) platform has been designed to reduce risks for investors participating in the market.
Statement 2: The IRRA platform is developed by the Reserve Bank of India (RBI).
Explanation:
The correct answer is option 'A', i.e., only statement 1 is correct. Let's analyze each statement in detail:
Statement 1: The Investor Risk Reduction Access (IRRA) platform has been designed to reduce risks for investors participating in the market.
The IRRA platform is a digital platform developed to mitigate the risks faced by investors while dealing with the secondary market transactions. It aims to provide a mechanism for early detection of fraudulent activities, unauthorized trading, and other risks that could potentially harm investors. The platform allows investors to verify the authenticity of securities before entering into any transaction, thereby reducing the chances of fraud and ensuring a safer investment environment.
Statement 2: The IRRA platform is developed by the Reserve Bank of India (RBI).
This statement is incorrect. The IRRA platform is not developed by the Reserve Bank of India (RBI). It is developed by the Securities and Exchange Board of India (SEBI). SEBI is the regulatory body for the securities market in India and is responsible for creating a transparent and fair market environment for investors.
In conclusion, only statement 1 is correct, while statement 2 is incorrect. The Investor Risk Reduction Access (IRRA) platform is designed to reduce risks for investors participating in the market. However, it is developed by the Securities and Exchange Board of India (SEBI), not the Reserve Bank of India (RBI).
Statement 2: The IRRA platform is developed by the Reserve Bank of India (RBI).
Explanation:
The correct answer is option 'A', i.e., only statement 1 is correct. Let's analyze each statement in detail:
Statement 1: The Investor Risk Reduction Access (IRRA) platform has been designed to reduce risks for investors participating in the market.
The IRRA platform is a digital platform developed to mitigate the risks faced by investors while dealing with the secondary market transactions. It aims to provide a mechanism for early detection of fraudulent activities, unauthorized trading, and other risks that could potentially harm investors. The platform allows investors to verify the authenticity of securities before entering into any transaction, thereby reducing the chances of fraud and ensuring a safer investment environment.
Statement 2: The IRRA platform is developed by the Reserve Bank of India (RBI).
This statement is incorrect. The IRRA platform is not developed by the Reserve Bank of India (RBI). It is developed by the Securities and Exchange Board of India (SEBI). SEBI is the regulatory body for the securities market in India and is responsible for creating a transparent and fair market environment for investors.
In conclusion, only statement 1 is correct, while statement 2 is incorrect. The Investor Risk Reduction Access (IRRA) platform is designed to reduce risks for investors participating in the market. However, it is developed by the Securities and Exchange Board of India (SEBI), not the Reserve Bank of India (RBI).
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Consider the following statements regarding the Investor Risk Reductio...
Recently, chairperson of the Securities and Exchange Board of India (SEBI) launched the Investor Risk Reduction Access platform.
- It has been developed to reduce risks faced by investors in the eventuality of technical glitches at the trading member’s end at both the primary site and disaster recovery site.
- Its purpose is to provide investors with an opportunity to square off/close their open positions and cancel pending orders using the IRRA platform in case of technical glitches or unforeseen outages that render the trading member’s site inaccessible.
- It has been designed to reduce risks for investors participating in the market.
- It is not meant for taking fresh positions or orders, but only to cancel the pending orders.
- This platform will be available to trading members supporting internet-based trading (IBT) and Security Trading through Wireless Technology (STWT) for their investors. However, it will not be accessible for algo trading and institutional clients.
- It has been jointly developed by all the stock exchanges – BSE, NSE, NCDEX, MCX and Metropolitan Stock Exchange of India (MSE)
Hence only statement 1 is correct.
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Consider the following statements regarding the Investor Risk Reduction Access platform: It has been designed to reduce risks for investors participating in the market. It is developed by the Reserve Bank of India.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'A'. Can you explain this answer?
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