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.
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