SEBI to go digital on all payments

Securities & Exchange Board of India (SEBI) plans to give an option to all market intermediaries and companies to make their regulatory payments in digital wallet supporting the government on the post-demonetization cashless drive. The move would help in speedy and easy transactions together reducing failures due to payment gateway bottlenecks. SEBI would consider a proposal in this matter this week, sources said. The move comes following the demonetization of high-value notes by RBI in November. Many of the intermediaries such as brokers, Foreign Portfolio Investors, stock exchanges, custodians make payments to SEBI through online banking. In addition to this, SEBI has already introduced an option for e-payment through RTGS to enable ease of paying penalties, disgorgement amounts, settlements amounts, legal charges, recovery amounts etc. However, certain receipts like filing fees for IPOs, takeover fees, payment from mutual funds are still received through cheques and DDs. Further, option of online payment from market intermediaries is not available in the respective regulations.