Allowing payment banks to register as Bankers to an Issue

So far SEBI allowed only Scheduled Banks to become bankers to an issue (BTI).

banker to an issue” means a scheduled bank carrying on all or any of the following activities, namely :—
(i) acceptance of application and application monies;
(ii) acceptance of allotment or call monies;
(iii) refund of application monies;
(iv) payment of dividend or interest warrants;
SEBI has now permitted payment banks which are non-scheduled banks to become a BTI. Payment Banks get another set of activities to do.

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