Sebi discontinues payment through demand draft mode for intermediaries

Mar 28, 2023

Synopsis
The regulator has decided to introduce the changes in the Securities Lending Scheme, whereby intermediaries will have to send the fee payable, by way of direct credit into the bank account through NEFT/RTGS/IMPS or online payment using the Sebi payment gateway

Capital markets regulator Sebi on Tuesday discontinued the option of payment through demand draft for intermediaries and asked them to pay fees and penalties only through digital mode. The new rule will come into force from April 1, the Securities and Exchange Board of India (Sebi) said in a circular.

The regulator has decided to introduce the changes in the Securities Lending Scheme, whereby intermediaries will have to send the fee payable, by way of direct credit into the bank into the bank account through NEFT/RTGS/IMPS or online payment using the Sebi payment gateway.

Further, a receipt will be sent to the approved intermediaries after the realisation of the payment through any of these modes.

[The Business Standard]