Modification in the Operational Guidelines for Foreign Portfolio Investors, Designated Depository Participants and Eligible Foreign Investors – Bank account details to which the payment is to be done electronically
Summary
SEBI has modified the Operational Guidelines for Foreign Portfolio Investors by specifying new bank account details for electronic remittances of fees in US dollars. This change aims to facilitate faster confirmation of foreign inward remittances by intermediaries through ICICI Bank Ltd. The provisions of this circular become applicable from June 24, 2022, while all other existing guidelines remain unchanged.
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'Annexure D’ of the ‘Operational Guidelines... specifies Bank account details for remittance of various payment of various SEBI fees in US $.
necessary arrangement has been made for foreign inward remittances in the following account: Securities and Exchange Board of India, ICICI Bank Ltd., Bandra Kurla Complex, Mumbai 400051, Account No. 055501001994, IFSC Code ICIC0000555, Swift Code ICICINBBNRI.
All other provisions of the Operational Guidelines shall remain unchanged. The provisions of this circular shall be applicable with effect from June 24, 2022.
This circular is issued in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992.
Source: SecMarx — Modification in the Operational Guidelines for Foreign Portfolio Investors, Designated Depository Participants and Eligible Foreign Investors – Bank account details to which the payment is to be done electronically. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.