The Securities and Exchange Board of India Vide its Notification dated 16th April 2020 has relaxed compliance norms for depository participants, stock brokers and share transfer agents with regard to processing of demat request and KYC application due to COVID-19 pandemic and subsequent lockdown.
SEBI has extended timeline for processing of the demat request form by issuer/registrar of share transfer agent (RTA), processing of the demat request form by the Participants and for uploading the KYC application form and supporting documents of the clients.
The period from March 23 till May 17 shall be excluded for computing the existing timelines for compliance. Further 15-day time period after May 17 has been allowed to registered intermediary, to clear the backlog.
Click here to read the Circular.
