This is further to our Notice No. 20190129-40 dated January 29, 2019 regarding "New Features Added in XSIP registration" and Notice no. 20190215-18 dated February 15, 2019 regarding “New Features Added in XSIP registration – Update”, MFIs/MFDs/RIAs are hereby requested to note the changes in the XSIP registration Report.
The Exchange has given vide its Notice No. 20190129-40 a facility to shift the ACTIVE XSIP Registrations from one mandate to another mandate. Now, a new facility would be provided to the members to shift the suspended XSIPs to approved mandates.
As per current process, once the mandate status gets updated as ‘Rejected’, all the XSIPs registered mapped against the mandate also get auto cancelled in the system. An additional facility has been developed wherein if the mandate status updated as Rejected, all the status of XSIP registrations mapped against those mandates will be changed to ‘Suspended’.
For these XSIP registrations where the status is ‘Suspended’, the subsequent transaction will be triggered and auto cancelled in the system till the XSIP Registration is shifted to new Mandate ID.
The process given in Notice No. 20190129-40 and 20190215-18 shall be followed for shifting of XSIP Registrations to new approved mandates. The mandates status must be approved. Members can use the Mandate Shift Manual/Upload facility. Once the XSIP registration is shifted to an Approved mandate, the status of the registration will be changed to ‘Active’.
Due to this new development, there is an addition of status as ‘Suspended’ in the XSIP Registration Report. XSIP registration report currently has the following status:
New status has been added as ‘Suspended’.
Members are requested to note the above changes and make necessary development at their end
Go live date will be informed later.
Ketan Jantre Zeeta Eustace
Sr. General Manager – Mutual Funds Assistant General Manager – Mutual Funds