Joining focuses with the government on the post-demonetization cashless drive, market regulator SEBI plans to give option to market intermediaries and companies to make digital payments.
Move will help speed and ease of transactions while lowering failures due to payment gateway issues.
SEBI is said to follow many organisations on the digital drive, following demonetisation of high value currency by the RBI in Nov.
Intermediaries such as brokers, Foreign Portfolio Investors, Stock Exchanges, Custodians make payments to SEBI through online banking.
Payments made include penalties, disgorgement amounts, settlement amounts, legal charges and recovery amounts. An option for e-payment of the same through RTGS has been approved.
To enable digital payment, SEBI will pass an amendment in different regulations setting the option for payment to the regulatory authorities through the digital mode.
