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of <h1>SEBI Updates Guidelines: New Electronic Modes for Refunds in Public Issues Including ECS, RTGS, and NEFT.</h1> The Securities and Exchange Board of India (SEBI) has amended its guidelines to introduce various modes for refunding applicants in public issues, including Electronic Clearing Service (ECS), Direct Credit, Real Time Gross Settlement (RTGS), and National Electronic Funds Transfer (NEFT). Initially, ECS will be used for applicants in 15 centers managed by the Reserve Bank of India, with potential expansion based on system performance feedback. Bankers to the issue must coordinate with registrars to ensure timely electronic fund transfers as per the guidelines. Further details and the full text of the guidelines are available on SEBI's website.
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