SEBI allows non-scheduled Payments Banks to register as ‘Bankers to an Issue’
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- Last Updated on 6 August, 2021
SEBI/HO/MIRSD/MIRSD_DOR/P/CIR/605/2021, Dated 04.08.2021
The SEBI has permitted non-scheduled Payments Banks to register as ‘Bankers to an Issue’ (BTI). Now, non-scheduled Payments Banks, which have prior approval from the Reserve Bank of India, shall be eligible to act as a BTI subject to fulfillment of the conditions stipulated in the BTI Regulations.
In addition, Payments Banks registered as a BTI shall also be permitted to act as a Self-Certified Syndicate Bank subject to the fulfillment of the criteria laid down by the Board in this regard from time to time. The blocking/movement of funds from the investor to issuer shall only be made through the savings account of the investor held with the payments bank
Read the Full Circular Here
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