NEW DELHI : Sebi on Wednesday gave more time for implementation of guidelines pertaining to SMS alerts under the Unified Payment Interface (UPI) system for shares applied and allotted during an IPO. The deadline for putting in place automated web portal with respect to Initial Public Offers (IPOs) through UPI system has also been extended. The framework for automated web portal would come into force from October 1, 2021 while those related to SMS alerts from January 1, 2022, Sebi said in a circular. With regard to SMS alerts, Sebi said Self Certified Syndicate Bank (SCSB) will have to continue to send SMS alerts during the actual block/debit/unblock of Unified Payment Interface (UPI) mandate in the prescribed format. The requisite information on this automated portal will be updated periodically in intervals not exceeding two hours.

Source: Mint June 02, 2021 15:10 UTC