Write short notes on the following : (e) Self-Certified Syndicate Bank.
CS Executive · Securities Laws and Capital Markets · PYQS · December 2020
Write short notes on the following : (e) Self-Certified Syndicate Bank.
Answer & Explanation:
Self-Certified Syndicate Bank (SCSB) is a bank which offers the facility of applying through the ASBA process. A bank desirous of offering ASBA facility shall submit a certificate to SEBI as per the prescribed format for inclusion of its name in SEBI's list of SCSBs. A SCSB shall identify its Designated Branches (DBs) at which an ASBA investor shall submit ASBA and shall also identify the Controlling Branch (CB) which shall act as a coordinating branch for the Registrar of the issue, Stock Exchanges and Merchant Bankers. The SCSB, its DBs and CB shall continue to act as such, for all issues it to which ASBA process is applicable. The SCSB may identify new DBs for the purpose of ASBA process and intimate details of the same to SEBI, after which SEBI will add the DB to the list of SCSBs maintained by it. The SCSB shall communicate the following details to Stock Exchanges for making it available on their respective websites; these details shall also be made available by the SCSB on its website: Name and address of all the SCSB. Addresses of DBs and CB and other details such as telephone number, fax number and email ids. Name and contacts details of a nodal officer at a senior level from the CB.
Topics: Capital Market Intermediaries
Related Questions in this Topic
- Write short notes on the following: Internal Audit of Intermediaries.
- The Registrar to an Issue and Share Transfer Agents constitute an important category of intermediaries in the securities...
- Write short notes on the following : (b) Custodians of Securities
- Write short notes on the following : (a) Bankers to an issue
- "The Stock Exchanges have a vital role to play in development of a country in general, and industrial growth of companie...