Sebi New Rule: The capital markets regulator Sebi requested intermediaries to pay fees and penalties only digitally on Tuesday after discontinuing the option of payment via demand draught. The Securities and Exchange Board of India (Sebi) announced the new rule’s effective date in a circular.

The regulator has made the decision to modify the Securities Lending Scheme such that intermediaries must send the fees due via direct bank account credit via NEFT/RTGS/IMPS or online payment via the Sebi payment portal. After the payment has been made using one of these methods, a receipt will also be provided to the authorised intermediaries.

This comes after the Sebi’s board in its meeting in December 2022 approved rules to dispense with the option of payment through demand draft and ensure that the payment of fees, penalties and recoveries is to be made only through the digital mode of payment.