This is in partial modification to the Notice No. 20220422-34 dated April 22, 2022 with regards to ‘Discontinuation of usage of pool accounts for transactions in units of mutual funds on BSE StAR MF Platform’
MFIs/MFDs/RIAs are hereby informed that, additional field ‘Account No.’ has been added in Manual Entry, Bulk Upload, IML and API for SWP registration.
· Similar to Redemption orders, members shall enter / select/upload the Bank Account wherein the redemption proceeds are to be given to their respective clients in Bank Account No. during SWP registration.
· Members shall ensure that the Bank Account No. entered for SWP registration shall be one of the bank accounts registered and validated in the UCC.
· In case of demat SWP registration, the client is required to issue the Delivery Instruction Slip (DIS) to transfer the units to the CC’s pool account for which the redemption transaction is placed on the Exchange Platform
· CC shall be releasing the redemption payout as per the bank account mentioned during the Order upload. If the Bank Account No. isnot available in the UCC, redemption proceeds shall be given to any validated bank account in UCC.
· In case of non demat transactions of MFDs/RIAs, the redemption proceeds shall be given by RTA/AMC directly to the Investors. The Bank account given at the time of order entry shall be reported to RTA in the transaction feed file. If the said bank account is registered with RTA for the Folio, then, RTA/AMC shall be releasing the redemption proceeds else, it shall be released to the default bank account registered with RTA/AMC for the said folio.
In this regard, please find attached the Operating Instructions and the File Structures :
· Annexure I – SWP Bulk Upload Structures of Web
For any query on the BSE StAR MF platform you can reach us through our service centre on 022-45720450 & 022-45720650 on business days between 8.00 a.m. to 7.00 p.m. You can also raise your queries on our CRS portal:- https://bsecrs.bseindia.com
Please find below link to the earlier notices issued for your reference:
Discontinuation of usage of pool accounts for transactions in units of mutual funds on BSE StAR MF Platform - Update
Ketan Jantre Zeeta Eustace
Sr. General Manager – Mutual Funds Dy. General Manager – Mutual Funds |