Discontinuation of acceptance of cash by Stock Brokers

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....MRD/SE/Cir- 33/2003/27/08 dated August 27, 2003, regarding Mode of Payment and Delivery. 2. Government of India has promoted various means for transfer / receipt of funds through digital mode for encouraging a cashless economy. Financial institutions/ Banks have introduced various modes of electronic payment facility including mobile banking, Unified Payment Interface (UPI) etc. 3. In view o....

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....ther directly or by way of cash deposit to the bank account of stock broker. 4. All other conditions specified in the SEBI circular dated August 27, 2003 shall continue to remain in force. 5. Stock Exchanges are directed to a) make necessary amendments to the relevant bye-laws, rules and regulations for the implementation of the above direction immediately; b) bring the pro....