The Bombay Stock Exchange (BSE) on October 21, 2024, issued a notification regarding usage of UPI by Individual Investors for making an application for the Public Issue of Securities through Intermediaries.
The following has been stated: -
•SEBI has mandated that individual investors applying for public issues of certain debt securities up to ₹5 lakh must use UPI for blocking funds, effective November 01, 2024.
•Intermediaries must submit UPI IDs on the iBBS platform for these applications. Investors retain options for other application methods, including SCSBs and 3-in-1 accounts.
•All intermediaries are encouraged to guide investors on this new UPI requirement.
[Notification No. 20241021-44]
