This is with reference to the Notice No. 2024006-33 dated Jun 6, 2024 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 implemented for the Redemption/SWP orders reported from June 14, 2024 at ICCL end.
AMC / RTA shall arrange to credit the bank account of the ICCL on the day as per settlement days specified in SID of the scheme for all Demat Redemption/SWP transactions of the SB, CM and Mutual fund distributors. ICCL will accordingly transfer the proceeds for such demat transactions in the bank account of respective clients.
For all Non-Demat Redemption Transactions/SWP of the SB, CM and Mutual Fund Distributors, RTAs/AMCs will credit the bank account of Clients.
Further, the Bank account provided at the time of redemption/SWP 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.
For any queries in this regard, you can reach us on 022-22725168 on business days between 9.00 a.m. to 6.00 p.m. You can also raise your queries on our CRS portal:- https://bsecrs.bseindia.com
For Indian Clearing Corporation Ltd.
Mehul Parikh Jayesh Ashtekar
ADGM – Mutual Funds DGM – Mutual Funds |