Description
BSE announces discontinuation of Axis Bank cheque collection facility for Mutual Funds transactions on BSE StAR MF platform effective November 27, 2025. Members can use HDFC Bank facility or alternate payment modes.
Summary
BSE has announced the discontinuation of the Axis Bank cheque collection facility for Mutual Funds transactions received on the BSE StAR MF platform, effective from November 27, 2025. This follows previous notices (20180511-23 and 20250425-1) regarding cheque collection facilities. Members whose clients wish to make payments via cheque can utilize the HDFC Bank cheque collection facility or other alternate payment modes available on the BSE StAR MF platform.
Key Points
- Axis Bank cheque collection facility will be discontinued from November 27, 2025
- Facility applies to Mutual Funds transactions on BSE StAR MF platform
- HDFC Bank cheque collection facility remains available as an alternative
- Multiple alternate payment modes are enabled on the platform
- Members must inform their clients about this change
- Service center support available on 022-45720450 & 022-45720650 (8:00 AM to 7:00 PM on business days)
- Queries can be raised on BSE CRS portal: https://bsecrs.bseindia.com
Regulatory Changes
No regulatory changes introduced. This is an operational modification to payment collection infrastructure for mutual fund transactions on the BSE StAR MF platform.
Compliance Requirements
- Market Participants/Members: Must inform their clients about the discontinuation of Axis Bank cheque collection facility
- Members: Should guide clients to use HDFC Bank cheque collection facility or alternate payment modes for purchase orders
- Members: Need to update internal processes and client communication materials to reflect the change
Important Dates
- Notice Date: November 21, 2025
- Effective Date: November 27, 2025 - Axis Bank cheque collection facility discontinued
Impact Assessment
Operational Impact: Medium - Members and their clients using Axis Bank cheque collection facility will need to transition to HDFC Bank or other payment modes. The availability of alternative payment methods mitigates significant operational disruption.
Market Impact: Low - This is a backend payment processing change that does not affect trading or investment decisions. The continued availability of HDFC Bank cheque facility and other payment modes ensures continuity of mutual fund transactions.
Client Impact: Medium - Clients currently using Axis Bank cheques will need to be informed and potentially update their payment instruments. However, multiple alternatives are available, reducing friction in the transition.
Impact Justification
Operational change affecting payment processing for mutual fund transactions. Alternative payment methods available through HDFC Bank and other modes, minimizing disruption.