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Crediting funds to Sebi’s IPEF to be done through online mode only
To facilitate market intermediaries, the process of crediting funds to Sebi's Investor Protection Education Fund (IPEF) can only be conducted online through the regulator's website.
This move will streamline the payment process and enhance accessibility for all the contributors to the fund.
In July 2020, the Securities and Exchange Board of India (SEBI) had prescribed that the amounts shall be credited to the the regulator's IPEF through online mode or through a demand draft drawn in favour of the board.
However, in its latest circular, the markets watchdog said that the remittances to the SEBI IPEF be made only through the regulator's website.
"SEBI has opened a new bank account to facilitate market participants to make payment to SEBI IPEF.
"In this regard, a link has been provided in the homepage of SEBI website (www.sebi.com) under the head 'Click here to make payment to SEBI IPEF'," it added.
The intermediaries can make payments to IPEF conveniently using various payment met