NEW DELHI : Markets regulator Sebi on Thursday relaxed compliance norms for depository participants, stock brokers and share transfer agents with regard to processing of demat request and KYC application amid the coronavirus pandemic.
The relaxation has been given till May 3, the Securities and Exchange Board of India (Sebi) said in a circular. The regulator has eased compliance requirement with regard to processing of the demat request form by issuer or registrar of share transfer agent (RTA) and depository participants.
Under the norms, processing of the demat request form by issuer or RTA needs to be done within 15 days, while the same for depository participants within seven days.