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Is it necessary for the corporates/institutions to collect mandate from the investors?

April 26, 2017collect corporates Institutions investors mandate necessary

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Is it necessary for the corporates/institutions to collect mandate from the investors?

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Ans Yes. A model mandate form has been prescribed for the purpose. Payment processing by banks becomes easier once the database is prepared. SEBI has also issued guidelines to investors to furnish their account numbers in their share applications for printing the same on the interest/dividend warrants, collecting the account particulars and mandates may not pose much problem. Source: http://rbidocs.rbi.org.in/rdocs/ECS/DOCs/19631.doc ♦Add to del.icio.us Digg DiggIt!