Designated depository participant fees required: application and approval fees payable electronically before commencement as condition of regulatory approval.

Designated depository participants must pay prescribed application and approval fees by direct credit through NEFT/RTGS/IMPS into the board's bank account payable at Mumbai; the application fee is payable at the time of application and the approval fee is payable at the time of grant of prior approval, and these payments are required before commencement of the participant's activity.

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