Use of Electronic Clearing System (ECS) for refund in public issues - Instructions for updation of MICR code for refunds through ECS

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....r   National Securities Depository Ltd.   Trade World, Kamala Mills Compound,   Senapati Bapat Marg, Lower Parel, Mumbai - 400 013.   The Managing Director and CEO   Central Depository Services (India) Ltd.   Phiroze Jeejeebhoy Towers,   Dalal Street, Fort,   Mumbai 400 023.   Dear Sirs, Sub. :  Use of Electronic....

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.... therefore, necessary that the MICR code maintained at the database of the depositories is updated on a real time basis as and when changes take place to ensure credit of refunds to the bank accounts of the applicants.  For this purpose, DPs have to update the MICR Code and other bank details of the applicants in the database of the depositories.  This is to ensure that the refunds throu....