weareliferuiner

  • Home
  • TECH
    • APP
    • APP REVIEW
    • GADGETS
    • IOS
    • MAC
    • SMARTPHONE
  • COMMUNICATION
  • LIFESTYLE
    • BEAUTY
    • FAMILY
    • FESTIVAL
    • FITNESS
    • FOOD & DRINK
    • HEALTH
  • MONEY
  • Chocolate
  • PRODUCTIVITY
  • NEWS
  • Contact Us !
Reading: BSE to launch multi-bank facility for MF distributors on Aug 1
Share
Aa
Aa
weareliferuinerweareliferuiner
Search
  • Home
  • TECH
    • APP
    • APP REVIEW
    • GADGETS
    • IOS
    • MAC
    • SMARTPHONE
  • COMMUNICATION
  • LIFESTYLE
    • BEAUTY
    • FAMILY
    • FESTIVAL
    • FITNESS
    • FOOD & DRINK
    • HEALTH
  • MONEY
  • Chocolate
  • PRODUCTIVITY
  • NEWS
  • Contact Us !
Have an existing account? Sign In
Follow US
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
weareliferuiner > MONEY > BSE to launch multi-bank facility for MF distributors on Aug 1
MONEY

BSE to launch multi-bank facility for MF distributors on Aug 1

Loknath Das
Last updated: 2018/06/16 at 10:06 AM
By Loknath Das 2 Min Read
Share
SHARE

BSE to launch multi-bank facility for MF distributors on Aug 1

Asia’s oldest bourse BSE on Thursday said it will introduce a multi-bank facility for distributors to register clients on the exchange’s mutual fund platform from August 1.

Mutual fund distributors can register only one bank account while registering the client on the BSE StAR MF Platform.

“Multi-bank facility in UCC (Unique Client Code) registration will be going live with effect from August 1, 2016,” BSE said in a circular.

The exchange would introduce the multi-bank facility in UCC registration for non-demat transactions. This facility allows mutual fund distributors to register up to five different bank accounts for their respective clients.

While registering multiple accounts, the distributors will have to register the client type as “physical”, and specify any one bank account as “default”.

In March, BSE had announced a host of new services on its mutual fund platform, BSE StAR MF, including digital non-demat transactions, round-the-clock order acceptance and six-day order holding facility to help investors and distributors of such products.

In 2014, capital markets regulator Sebi had allowed MF distributors to use the stock exchange platform for non-demat transactions as well for sale or redemption of these financial products.

The move was aimed at allowing mutual fund distributors to leverage the stock exchange platform to expand their reach.

[“Source-businesstoday”]

TAGGED: 1, Aug, BSE, distributors, Facility, for, launch, MF, multi-bank, on, to
Loknath Das June 16, 2018
Previous Article How investing in SIPs can make you a crorepati
Next Article Taking Time Out For You: Self-Care Ideas That Make An Impact

Latest News

5G handsets now comprise 87 pc of smartphone shipments in India
SMARTPHONE
Emerging Research Links Microplastics to Potential Risks for Bone Health
HEALTH
Tech skills in demand for
TECH
New Data on the Certified Health IT Market Now Available
HEALTH
Not just cholesterol, poor oral hygiene may also pose heart attack risk: Study
HEALTH
Early signs of kidney problems that most people ignore
HEALTH
Food and Drink Business
FOOD & DRINK
Try out the Samsung Collection app that Chinese users exclusively enjoy!
APP

Removed from reading list

Undo

Lost your password?