TO help enhance operational efficiency and reduce risks to clients' securities, market watchdog Securities and Exchange Board (Sebi) has made it mandatory from October 14, 2024, for clearing corporations to make the payment directly to the client's account and not from the broker's account, as it has been a prevailing practice.
Currently, a clearing corporation (CC) credits the payment of securities in the pool account of the broker, who then credits the same to their client's demat accounts.
In March, Sebi had issued a master circular for stock brokers specifying various processes for handling of clients' securities with regard to pay-in and payout of securities.
Diese Geschichte stammt aus der June 07, 2024-Ausgabe von The New Indian Express.
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Diese Geschichte stammt aus der June 07, 2024-Ausgabe von The New Indian Express.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
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