Temporary exemption withdrawal over ECS payment printing requirement after bank merger; entities advised to take note. SEBI withdrew a prior temporary exemption that had allowed registrars, share transfer agents and issuer companies to omit printing bank name and account details on dividend, interest and other cash payment instruments for investors with erstwhile Global Trust Bank accounts who furnished ECS details; the exemption is withdrawn following GTB's merger with Oriental Bank of Commerce and exchanges, depositories and RAIN are advised to take note and resume standard ECS payment instrument requirements.
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Temporary exemption withdrawal over ECS payment printing requirement after bank merger; entities advised to take note.
SEBI withdrew a prior temporary exemption that had allowed registrars, share transfer agents and issuer companies to omit printing bank name and account details on dividend, interest and other cash payment instruments for investors with erstwhile Global Trust Bank accounts who furnished ECS details; the exemption is withdrawn following GTB's merger with Oriental Bank of Commerce and exchanges, depositories and RAIN are advised to take note and resume standard ECS payment instrument requirements.
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