Description

BSE provides operating instructions for cancellation of dormant mandates on the StAR MF platform, including bulk upload process and reporting mechanisms.

Summary

BSE has issued operating instructions for the cancellation of dormant mandates on the BSE StAR MF platform. Members can now cancel dormant mandates through a bulk upload facility, which will trigger cancellation requests to NPCI and subsequently to destination banks. The facility is available only for approved mandates with updated UMRN that have no XSIP/OTM registered against them.

Key Points

  • Dormant mandate cancellation facility available only for Physical/Scan/E-Mandate/ENACH mandate types
  • Mandates must have updated UMRN and no XSIP/OTM registered against them
  • Cancellation requests must be submitted via bulk upload in pipe-separated text file format
  • Upon upload, mandate status changes to ‘Cancelled by Member’ with ‘Dormant Mandate’ remark
  • Cancellation requests are routed through NPCI to client’s destination bank
  • Successfully cancelled mandates appear as ‘REJECTED’ status with ‘Dormant Mandate’ remark
  • Cancelled mandates cannot be used for OTM payment or XSIP registration
  • Failed cancellation requests revert mandate status to ‘APPROVED’ with blank remarks

Regulatory Changes

No new regulatory changes. This circular provides operational guidelines for implementing dormant mandate cancellation on the BSE StAR MF platform.

Compliance Requirements

For Members:

  • Access dormant mandate data through: Admin » Admin Reports » Mandate Reports » Dormant Mandate Details report
  • Submit cancellation requests only through bulk upload facility at: Systematic Investment » Mandate » Dormant Mandate Upload
  • Use specified file format: Client Code | Mandate ID (pipe-separated text file)
  • Monitor mandate status through Mandate Details Report at: Systematic Investment » Mandate » Mandate Search

File Format Requirements:

  • Format: Pipe separated text file (.txt)
  • Fields: Client Code | Mandate ID

Important Dates

No specific deadlines mentioned. The facility is currently available for eligible dormant mandates.

Impact Assessment

Operational Impact:

  • Streamlines dormant mandate management for mutual fund distributors and members
  • Reduces maintenance burden by enabling systematic cancellation of unused mandates
  • Provides clear audit trail through status updates and reporting mechanisms

Process Impact:

  • Introduces mandatory bulk upload process (individual cancellation not permitted)
  • Requires coordination between BSE StAR MF platform, NPCI, and destination banks
  • Cancelled mandates permanently unavailable for future transactions

Member Impact:

  • Members can proactively manage dormant mandates to avoid maintenance charges
  • Clear visibility of cancellation status through existing reporting infrastructure
  • Failed cancellation requests automatically revert to approved status

Impact Justification

Operational update affecting mutual fund distributors and members managing dormant mandates; impacts workflow but not immediate trading operations