Description

BSE announces discontinuation of Axis Bank cheque collection facility for Mutual Fund transactions on BSE StAR MF platform effective 27th November 2025.

Summary

BSE has announced the discontinuation of the Axis Bank cheque collection facility for Mutual Fund transactions on the BSE StAR MF platform, effective from 27th November 2025. Market participants and their clients who currently use this facility will need to switch to alternative payment methods, including HDFC Bank cheque collection or other payment modes available on the platform.

Key Points

  • Axis Bank cheque collection facility will be discontinued from 27th November 2025
  • This facility was previously enabled through notices dated 11th May 2018 and 25th April 2025
  • HDFC Bank cheque collection facility remains available as an alternative
  • Other payment modes on BSE StAR MF platform can be used for purchase orders
  • Members must inform their clients about this change

Regulatory Changes

No regulatory changes. This is an operational modification to payment collection arrangements on the BSE StAR MF platform.

Compliance Requirements

  • Market participants must inform their clients about the discontinuation of Axis Bank cheque collection facility
  • Members should guide clients to transition to HDFC Bank cheque collection or alternate payment modes
  • Members must ensure smooth transition for clients currently using Axis Bank cheque facility

Important Dates

  • Notice Date: 21st November 2025
  • Effective Date: 27th November 2025 - Axis Bank cheque collection facility discontinued

Impact Assessment

Operational Impact: Market participants and investors currently using Axis Bank cheques for mutual fund transactions will need to transition to alternative payment methods within six days. This requires operational adjustments and client communication.

Market Impact: Limited market impact as alternative payment facilities (HDFC Bank cheques and other electronic modes) remain available on the BSE StAR MF platform.

Participant Actions Required: Members must promptly communicate this change to affected clients and facilitate transition to HDFC Bank cheque facility or other payment modes to ensure uninterrupted mutual fund transaction processing.

Support Available: BSE service centre available at 022-45720450 & 022-45720650 (8:00 AM to 7:00 PM on business days) and CRS portal at https://bsecrs.bseindia.com for queries.

Impact Justification

Operational change affecting payment methods for mutual fund transactions; alternative payment options remain available through HDFC Bank and other modes