The BSE StAR MF platform has been undergoing continuous enhancements based on the needs expressed by our customers. Currently the clients of Mutual Fund Distributors (MFD) who place their subscription orders on BSE StAR MF platform, shall make the payment in the account of Indian Clearing Corporation Limited (ICCL) through RTGS/NEFT mode in ICICI bank only.
To facilitate the clients of MFD’s who place their subscription orders on BSE StAR MF platform in making the payment in ICCL’s bank account, it is now proposed to provide the additional modes of payment to the clients of MFD.
The following new features are now introduced on the BSE StAR MF Platform :
1) Payment Gateway in Direct Mode. (Funds will be credited in ICCL’s bank account instantaneously) – Go live on February 5, 2016
2) Payment Gateway in Nodal Bank (Funds will be credited in ICCL’s bank account on the next day)- Go live on February 5, 2016
3) Payment through One Time Mandate (OTM) – Go-live date shall be announced
4) Payment through Cheque Deposit - Go-live date shall be announced
5) Payment to be made in ICCL’s Bank account in ICICI Bank through NEFT/RTGS/Funds transfer – Already Live
6) Redemption/Switch Authentication in non-demat mode only - Go-live date shall be announced
The aforementioned 4 facilities are currently being made available for the clients of MFD, who wish to purchase their units in Physical mode (Statement of Account) only.
The Investors who wish to place their purchase orders through Demat mode will continue to transfer the funds in ICCL’s, ICICI Bank account as per details provided in Notice number 20140305-33 dated March 05, 2014 (5th option stated above).
Please refer the list of Annexures enclosed herewith for reference:
Annexure I - Operating Guidelines
Annexure II – List of BSE StAR MF Service Centres
Annexure III - List of Banks
Registered MFI/MFDs should note and abide by the operating instructions and stipulations laid down in this Notice and the Notices issued from time to time with regard to BSE StAR MF by the Exchange. They would also be required to satisfy such other requirements as prescribed by SEBI, Association of Mutual Funds of India (AMFI) or any other regulatory authority for Mutual Fund Distributors in the Mutual Fund industry.
All clients of the MFIs/MFDs have to abide by the operating instructions and stipulations laid down in this Notice and other notices issued from time to time by the Exchange relating to the BSE StAR MF platform.
In case of any clarifications, please contact the following officials:
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Name of official
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Contact No.
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Mr. Sagar Parekh
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2272 8440
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Mr. Gavin Henriques
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2272 8399
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Mr. Omkeshwar Singh
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2272 8066
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Zeeta Eustace Ketan Jantre
Sr. Manager - Mutual Funds General Manager – Mutual Funds
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