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What is the procedure for change of local custodian?

April 26, 2017custodian local procedure

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What is the procedure for change of local custodian?

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In case of change of the local custodian of the FII / sub-account, the change should be intimated to SEBI by the FII. On receipt of no objection from the existing custodian and acceptance from the proposed custodian, the change of custodian would be approved – by SEBI.