Description

BSE announces discontinuation of Axis Bank cheque collection facility for mutual fund transactions on BSE StAR MF platform effective 27th November 2025. Members advised to use HDFC Bank facility or alternate payment modes.

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. This facility, which was introduced through earlier notices (20180511-23 and 20250425-1), will no longer be available for processing mutual fund purchase orders. Market participants are advised to transition to alternative payment methods including the HDFC Bank cheque collection facility or other payment modes available on the BSE StAR MF platform.

Key Points

  • Axis Bank cheque collection facility for mutual fund transactions will be discontinued from 27th November 2025
  • Members whose clients use cheque payments can utilize HDFC Bank cheque collection facility on BSE StAR MF platform
  • Alternative payment modes are available on the BSE StAR MF platform
  • Members are required to inform their clients about this change
  • Support available through service centre on 022-45720450 & 022-45720650 (8:00 AM to 7:00 PM on business days)
  • Queries can also be raised on CRS portal: https://bsecrs.bseindia.com

Regulatory Changes

No regulatory framework changes. This is an operational modification to the payment infrastructure for mutual fund transactions on BSE StAR MF platform.

Compliance Requirements

  • Market participants must inform their clients about the discontinuation of Axis Bank cheque collection facility
  • Members need to guide clients to transition to HDFC Bank cheque facility or alternate payment modes
  • Members should ensure clients are aware of available payment options before the discontinuation date

Important Dates

  • Notice Date: 21st November 2025
  • Discontinuation Effective Date: 27th November 2025

Impact Assessment

The discontinuation has medium operational impact on market participants and clients who currently use Axis Bank cheque collection facility for mutual fund transactions. However, the availability of HDFC Bank cheque collection facility and multiple alternate payment modes on the BSE StAR MF platform ensures continuity of services. Members have approximately 6 days from the notice date to inform clients and facilitate the transition to alternative payment methods. No impact on trading or settlement timelines is anticipated, provided members and clients adapt to the alternative payment infrastructure in a timely manner.

Impact Justification

Operational change affecting payment methods for mutual fund transactions. Alternative payment facilities remain available through HDFC Bank and other modes, minimizing disruption.