Page 52 - Banking Finance September 2023

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sustainability initiatives. Being able to convey complex commitment to making a positive impact, and a proactive
concepts in a clear and concise manner is highly valued. mindset are crucial. Employers look for individuals who
demonstrate dedication to sustainable practices, resilience
Analytical and problem-solving abilities: Strong analytical in the face of challenges, and a long-term vision for a
skills will help you assess environmental impacts, identify sustainable future.
areas for improvement, and develop sustainable solutions.
Aptitude: Demonstrating the required skills, knowledge, and
Problem-solving abilities will enable you to tackle challenges
expertise is equally important. Employers seek candidates
and find innovative ways to address sustainability issues.
who possess the technical competencies necessary to
address sustainability issues effectively. The ability to learn
Collaboration and leadership: Sustainability often requires
and adapt to new technologies and evolving practices is also
working with interdisciplinary teams and engaging
highly valued.
stakeholders from various sectors. Being able to collaborate
effectively, influence others, and lead sustainability initiatives
Possessing the right qualifications, technical skills, industry
will enhance your career prospects.
knowledge, and communication abilities will open doors to
opportunities. However, an enthusiastic attitude, passion,
Balancing of attitude and aptitude is key to
and commitment to sustainability are equally essential to
thriving in the field of sustainability.: drive positive change and contribute to a more sustainable
Attitude: Having a passion for sustainability, a genuine world. (Source: ToI)

A new online dispute resolution (ODR) system involving said a market observer. “Should these ODR institutions be
institutions, conciliators and arbitrators for the capital registered as companies or whether Sebi should register
market is on its way. On July 31, market regulator Securities them? What will be the organisational structure of ODR
and Exchange Board of India (Sebi) issued a circular, institutions? It’s not clear,” he said.
streamlining the existing dispute resolution mechanism in
What’s the procedure?
the securities market under the aegis of stock exchanges
An investor or client should first take up the grievance with
and depositories — Market Infrastructure Institutions — by
the market participant by lodging a complaint directly with
establishing a common ODR portal. The new system will
the concerned market participant. If the grievance is not
harness online conciliation and online arbitration for
redressed satisfactorily, the investor or client may escalate
resolution of disputes arising in the securities market.
the same through the SCORES Portal. After exhausting all
available options, if the investor or the client is still not
What are ODR institutions?
satisfied, he or she can initiate dispute resolution through
According to Sebi, each MII will identify and empanel one
the ODR Portal. The first step is conciliation. If this fails, the
or more independent ODR institutions. These institutions
next step is arbitration.
will have qualified conciliators and arbitrators. MIIs will, in
consultation with their empanelled ODR institutions, Implementation timeline
establish and operate a common ODR portal. All listed The ODR provisions will be implemented in phases: The first
companies, specified intermediaries and regulated entities phase will include development of the ODR portal, and
in the securities market (referred to as market participants) empanelment of ODR institutions, conciliators and
will enrol on the ODR portal. arbitrators before August 1. Then the registration of trading
members and depository participants should be done by
Who can form ODR institutions?
August 15, and commencement of registering of complaints
Sebi has not specified who will qualify as ODR institutions. against brokers and depository participants and their
“Prima facie it looks like outsourcing of investor dispute resolution from August 16, according to the market
resolution with the involvement of private ODR institutions,” regulator. (Source: The Indian Express)

52 | 2023 | SEPTEMBER | BANKING FINANCE