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Economy News

News on Indian Economy and Sectors, which have impacts in the market.

 
SEBI allows investors to block funds in bank accounts before transferring them upfront to brokers
30-Mar-23 15:00Hrs IST

The Securities and Exchange Board of India (SEBI) has announced a system which allows an investor to block funds in their bank accounts rather than transferring them upfront to brokers before executing secondary market trades.

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Attention Investor :

"Prevent unauthorised transactions in your account ; Update your mobile numbers/email IDs with Us. Receive information of your transactions directly from Exchange on your mobile/email at the end of the day” - Issued in the interest of Investors"

"KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary."

"No need to issue cheques by investors while subscribing to Equity IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."

A Muthoot M George Enterprise