Does SEBI recommend any KPI to measure against the broker houses. Does SEBI conduct audits and publish the results to the general public to help the retail trader to make informed choices.
I see two web services ( #1 , #2 ) providing some level of information, But i believe it is curated by 3rd party and not authoriszed SEBI
SEBI doesn’t give out any such information, Like the fact that the financials are revealed on this site http://comparebrokerages.in/ ,
That may not be true. Even this site provides some information in this regards,
I dont think there is any ranking or rating issued by Sebi or any regulatory body. That might be conflict of interest if they start doing that (and yea a lot of corruption too).
It generally comes from client's experiences and broker overall positioning in the market. Here is one reference article with some feedback and ratings from clients on different full service and discount stock brokers in India.
http://www.adigitalblogger.com/trading/best-stock-brokers-in-india-full-service-discount/