[Analysis] SEBI Launches a Dedicated Bank Account for Seamless Credits to IPEF by Market Participants

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  • Last Updated on 25 April, 2024

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SEBI Investor Protection and Education Fund Regulations

Table of Contents

  1. Introduction
  2. Diverse Payment Options available for funding IPEF
  3. Details of remitters to be furnished during the payment processing
  4. Comments

1. Introduction

Earlier, SEBI vide its Circular No. SEBI/HO/ISD/ISD/CIR/P/2020/135 dated July 23, 2020 had prescribed that as per Regulation 4(2) of SEBI (Investor Protection and Education Fund) Regulations, 2009, any amount collected by the listed companies, intermediaries and fiduciaries for violation(s) of CoC shall be credited to the SEBI Investor Protection and Education Fund through online mode or by way of demand draft in favour of the Board.
Currently, SEBI vide its Circular No. SEBI/HO/GSD/TAD/P/CIR/2023/149 dated September 04, 2023 has modified the mode of payment for crediting the amount to the SEBI Investor Protection and Education Fund (SEBI IPEF).

SEBI has introduced a new bank account to streamline payments from market participants to SEBI IPEF. Pertaining to this, a link has been made accessible in the Homepage of SEBI website (www.sebi.gov.in) under the head “Click here to make payment to SEBI IPEF”.

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2. Diverse Payment Options available for funding IPEF

The provided link allows the remitter to complete the payment using any of the diversified methods:

(a) Net Banking

(b) NEFT/RTGS

(c) Debit Cards

(d) UPI

3. Details of remitters to be furnished during the payment processing

While making the payment via the above link, the remitter shall furnish the requisite information :

(a) Name of the Payer

(b) PAN

(c) Mobile Number

(d) E-mail ID

(e) Purpose behind the payment

(f) Amount to be paid

4. Comments

The transition from SEBI’s previous requirement of online mode or demand drafts to now exclusively accepting contributions through online mode via a newly opened bank account simplifies the payment process, promoting greater efficiency and accessibility for market participants. This change reflects SEBI’s commitment to embracing digital payment methods and may lead to increased contributions to the Investor Protection and Education Fund (IPEF).

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