Streamlining the Process of Public Issue of Equity Shares and convertibles- Extension of time lime for implementation of Phase II of Unified Payments Interface with Application Supported by Blocked Amount
📋
Contents
Cases Cited
Referred In
Notifications
Circulars
Forms
Manuals
Acts
Rules & Regulations
Case Laws New
Ref Provisions New
Plus +
Source NTF
Summary
Similar
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
UPI with ASBA: Phase II implementation extended and T+6 operational timelines mandated for intermediaries and banks. Extension of Phase II implementation of Unified Payments Interface (UPI) with ASBA is directed until March 31, 2020, retaining the T+6 listing environment and prescribing detailed operational timelines. Retail applications via intermediaries must include UPI IDs; stock exchanges, sponsor banks, issuer banks, SCSBs, registrars, merchant bankers and NPCI must perform API-based bid validation, mandate initiation, funds blocking and multilayered reconciliation. Sponsor banks and merchant bankers have specified cut-offs and daily reporting obligations to consolidate data and share it with SEBI; liability for failed transactions rests with the participant where the transaction lifecycle halts.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
UPI with ASBA: Phase II implementation extended and T+6 operational timelines mandated for intermediaries and banks.
Extension of Phase II implementation of Unified Payments Interface (UPI) with ASBA is directed until March 31, 2020, retaining the T+6 listing environment and prescribing detailed operational timelines. Retail applications via intermediaries must include UPI IDs; stock exchanges, sponsor banks, issuer banks, SCSBs, registrars, merchant bankers and NPCI must perform API-based bid validation, mandate initiation, funds blocking and multilayered reconciliation. Sponsor banks and merchant bankers have specified cut-offs and daily reporting obligations to consolidate data and share it with SEBI; liability for failed transactions rests with the participant where the transaction lifecycle halts.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
