Digital payment requirement mandates electronic-only fee remittance for the securities lending scheme, with receipts upon payment realization. Payments of fees, penalties and recoveries under the Securities Lending Scheme must be made only by electronic modes (NEFT/RTGS/IMPS, SEBI payment gateway or other SEBI specified digital modes); approved intermediaries shall be sent receipts after realization of such payments. Stock exchanges and clearing corporations must implement system changes, amend bye laws, disseminate the change to members and confirm compliance. Other provisions of the 1997 scheme remain in force; the amendment is effective from April 1, 2023.
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Provisions expressly mentioned in the judgment/order text.
Digital payment requirement mandates electronic-only fee remittance for the securities lending scheme, with receipts upon payment realization.
Payments of fees, penalties and recoveries under the Securities Lending Scheme must be made only by electronic modes (NEFT/RTGS/IMPS, SEBI payment gateway or other SEBI specified digital modes); approved intermediaries shall be sent receipts after realization of such payments. Stock exchanges and clearing corporations must implement system changes, amend bye laws, disseminate the change to members and confirm compliance. Other provisions of the 1997 scheme remain in force; the amendment is effective from April 1, 2023.
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