In its constant endeavour to cater to the requirements of Members/Clients of BSE StAR MF platform, ICCL has been undergoing continuous enhancements in its processes and providing various avenues to the clients of Mutual Fund Distributors (MFDs)/Registered Investment Advisors(RIAs) to make the payment towards their purchase orders placed on the BSE StAR MF platform.
We now wish to inform all the MFDs/RIAs, that one such requirement to provide additional cheque collection centers to deposit the cheques given by their clients against the MF orders is going live w.e.f May 14, 2018. This product will be identified as “Cheque Collection Module" through, Axis Bank.
It may be informed that the existing cheque collection module with Karvy will also continue.
The new tie up with Axis Bank, opens up 3500 additional centres i.e. all the branches of Axis bank, across the length and breadth of the Country to the members/client’s of BSE StAR MF, to deposit the cheques against the orders placed on BSE STAR MF platform. The members/clients can deposit the cheques during the normal business hours of the individual Axis Bank branch.
The operational process for the “Cheque Collection Module" through Axis Bank is listed in the attached annexure.
In case of any further clarification in the matter members may approach the helpdesk or the relationship manager in their area.
For Indian Clearing Corporation Ltd
Sanjay Narvankar Jayesh Ashtekar
Dy. Gen. Manager Senior Manager
May 11, 2018. |