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of <h1>SEBI Updates Guidelines: Foreign Remittances to ICICI Bank Account Effective June 24, 2022, for Faster Confirmation.</h1> The Securities and Exchange Board of India (SEBI) has modified the operational guidelines for Foreign Portfolio Investors, Designated Depository Participants, and Eligible Foreign Investors regarding electronic payment bank account details. Effective June 24, 2022, foreign inward remittances should be directed to a specified account at ICICI Bank in Mumbai. This change aims to expedite confirmation of remittances by intermediaries. All other provisions of the existing operational guidelines remain unchanged. The circular is issued under the authority of the SEBI Act, 1992, and is available on SEBI's website.
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