BSE announces discontinuation of usage of pool accounts for transactions in units of mutual funds on BSE StAR MF Platform. Currently, bank account no. are mandatory for placing Redemption orders/SWP Registrations in Demat as well as Non-Demat mode on BSE StAR MF Platform. Members are requested to note that Bank Account No. will be made optional for Redemption Order and SWP Registration in Non-Demat Mode on BSE StAR MF platform.
If the Redemption/SWP is placed without account no., the order will be reported to RTA/AMC for processing with bank account as blank. RTA/AMC will process the order and credit the proceeds of redemption to the default bank account registered in folio. In case of Redemption/SWP is placed with bank account no., as per the existing process, the same will be reported to RTA. If the said bank account is registered with RTA for the respective Folio, then, RTA/AMC shall be releasing the redemption proceeds to the said bank account, else it shall be released to the default bank account registered with RTA/AMC for the said folio.
For Redemption and SWP in Demat mode, existing process shall continue.
