Payment Mode Standardization requires electronic fee payments via SEBI gateway or bank transfers, replacing paper instruments. SEBI amended numerous regulations to require that fees and levies be paid by direct credit into the Board's bank account through NEFT/RTGS/IMPS or online payment using the SEBI Payment Gateway, or by any other electronic mode as may be specified by the Board, replacing prior permissibility of demand drafts and banker's cheques. The amendments apply to a wide range of regimes and restate timing and procedural payment requirements for annual, application and non refundable fees, with the changes effective from the first day of April, 2023.