SEBI Permits non-scheduled Payments Banks to register as Bankers to an Issue
SEBI vide notification dated July 30, 2021, amended the SEBI (Bankers to an Issue) Regulations, 1994 (BTI Regulations) and permitted such specified other banking company to carry out the activities of Bankers to an Issue (BTI), in addition to the scheduled banks.
Now SEBI has stated that non-scheduled Payments Banks, which have prior approval from Reserve Bank of India (RBI), shall be eligible to act as a BTIs subject to fulfilment of the conditions stipulated in the BTI Regulations.
As per circular issued in this regard, payments Banks registered as a BTI shall also be permitted to act as a Self-Certified Syndicate Banks subject to the fulfilment of the criteria.
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.
Download SEBI Circular Click Here >>
SEBI/HO/MIRSD/MIRSD_DOR/P/CIR/ 605/ 2021
- Order not in conformity of Faceless Assessment Scheme if not est? – ITAT remands case
- Extension of the validity of FCRA registration certificates till 30.09.2024
- Section 68 to 69B applicable only if assessee is required to maintain books of accounts
- When show cause notice proposed addition u/s 68, addition can not be made u/s 69A
- AO directed to consider belated reply due to illegible copy of SCN u/s 148A(b)