| All Public Issue Refunds shall be credited directly to the bank accounts furnished by the clients in their demat accounts, through ECS mode only . |
| The bank details of Public Issue applicants shall be directly taken from the database of CDSL in respect of issues made completely in dematerialized form . |
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| This is mandatory in 15 centres specified by RBI whose details are given below. |
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| To facilitate the smooth refund of ECS credits all branches are required to obtain and quote the following particulars at the time of opening demat accounts. |
| 1) Bank Account Number |
2) MICR of the respective Branch alongwith cancelled cheque .
Existing BO's of the 15 branches are required to update their MICR code with immediate effect .
In order to avoid erroneous credits branches are required to advise the clients not to change their bank details between the date of application in an IPO /Record Date declared for corporate action .
Centers where ECS (Debit Clearing) is available at presentOffered by Reserve Bank of India.
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