This is with reference to the Notice No. 20220324-52, 20220328-51 and 20230821-24 dated March 24, 2022, March 28, 2022, and August 21, 2023, respectively, in respect of ‘Discontinuation of usage of pool accounts for transactions in units of mutual funds on BSE StAR MF Platform’.
Members are requested to note that below mentioned provisions of the Operating guidelines issued by the Exchange shall be revised as follows:
I. Funds Pay-out for Redemption transactions (Demat and Non-demat):
Existing:
“AMC / RTA shall arrange to credit the bank account of the CC on the day as per settlement days specified in SID of the scheme for all Demat and Non-Demat redemption transactions of the SB and CM and the Demat transactions of the Mutual fund distributors. The RTAs/AMCs will continue to credit the account of the client for Non Demat transactions of the Mutual Fund Distributors as per the existing process.”
Revised:
“AMC / RTA shall arrange to credit the bank account of the CC on the day as per settlement days specified in SID of the scheme for all Demat redemption transactions of the SB, CM and Mutual fund distributors.
The RTAs/AMCs will continue to credit the account of the client for Non Demat transactions of the SB, CM and Mutual Fund Distributors as per the existing process.
Further, the Bank account provided at the time of redemption order entry shall be reported to RTA in the transaction feed file. If the said bank account is registered with RTA for the respective Folio, then, RTA/AMC shall be releasing the redemption proceeds to the said bank account, else it shall be released to the default bank account registered with RTA/AMC for the said folio.
All other provisions of the Operating Guidelines shall remain unchanged.
Go live date shall be shared shortly.
For any queries in this regard, you can reach us through our service centre on 022-45720450 & 022-45720650 on business days between 8.00 a.m. to 7.00 p.m. You can also raise your queries on our CRS portal:- https://bsecrs.bseindia.com
Mentioned below is the link to the notices issued in this regard:
https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20230620-67
https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20230721-49
https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20230821-24
Ketan Jantre Zeeta Eustace
Head - Trading Operations Additional General Manager – Mutual Funds
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