The move is aimed at streamlining the payment process and enhance accessibility for all the contributors to the fund.
Capital markets regulator Securities and Exchange Board of India (Sebi) on Wednesday said it has started the mechanism for making online payments to its Investor Protection and Education Fund (IPEF). The use of online only mode has been made mandatory and the facility is now active under the tab “click here to make payment to Sebi IPEF” on the regulator’s website.
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The move is aimed at streamlining the payment process and enhance accessibility for all the contributors to the fund.
Intermediaries can now make payments to IPEF conveniently using various payment methods, including net banking, NEFT/RTGS, debit cards, and UPI.
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Henceforth, the remittances to Sebi IPEF shall be made only through the website link, by providing the requisite information like name of the payer, PAN, mobile number, email ID, the purpose for which payment is made, the amount to be paid, etc., Sebi said in a release.
On Monday, the markets regulator came out with a circular that crediting of funds to its IPEF can be done only online and via a link given on the Sebi’s website.
Sebi had earlier allowed such payments through a demand draft also.
Sebi has now directed stock exchanges to inform all the companies listed on their bourses about the changes in the mode of payment.
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What Is Investor Protection and Education Fund?
The IPEF has been set up for the promotion of investors’ education, awareness and protection.
IPEF is established by SEBI under the SEBI (Investor Protection and Education Fund) Regulations, 2009.
The fund is used for the educational activities, including seminars, training, awareness programmes, funding investor education and aiding investors’ associations by the board to undertake legal proceedings in the interest of investors in securities that are listed or proposed to be listed.
(With PTI inputs)
