Description

BSE provides operational instructions for cancellation of dormant mandates on the BSE StAR MF platform, including pre-requisites, process flow, and reporting mechanisms.

Summary

BSE has issued operating instructions for the cancellation of dormant mandates on the BSE StAR MF platform. The facility allows members to cancel approved mandates that have no XSIP/OTM registered against them through a bulk upload process. The cancellation requests are processed through NPCI and reflected in the platform’s reporting system.

Key Points

  • Mandate cancellation facility available only for approved mandates with updated UMRN and no XSIP/OTM registered
  • Facility applicable to Physical/Scan/E-Mandate/ENACH mandate types only
  • Cancellation requests must be submitted via bulk upload in pipe-separated text file format
  • Cancelled mandates display status as ‘REJECTED’ with remark ‘Dormant Mandate’
  • Once cancelled, mandates cannot be used for OTM payment and XSIP registration
  • If NPCI rejects cancellation request, mandate status reverts to APPROVED
  • Dormant mandate data accessible via Admin » Admin Reports » Mandate Reports » Dormant Mandate Details report

Regulatory Changes

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

Compliance Requirements

For Members:

  • Access dormant mandate data through member login path: 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 prescribed file format: pipe-separated text file (.txt) with Client Code and Mandate ID
  • Monitor mandate status updates in Mandate Detail Report after NPCI processing
  • Ensure cancelled mandates are not used for OTM payments or XSIP registrations

File Format Requirements:

  • Format: Client Code | Mandate ID
  • File Type: Pipe separated Text file (.txt)
  • Example: Test01|477995

Important Dates

No specific deadlines mentioned. The facility is operational and available for use by members.

Impact Assessment

Operational Impact:

  • Streamlines management of dormant mandates on BSE StAR MF platform
  • Reduces clutter of inactive mandates in the system
  • Provides systematic process for mandate lifecycle management

Member Impact:

  • Members must use bulk upload process for dormant mandate cancellations
  • Requires monitoring of mandate status updates post-NPCI processing
  • Failed cancellation requests will revert mandate status to APPROVED

System Impact:

  • Mandate status workflow: APPROVED → Cancelled by Member → REJECTED (with Dormant Mandate remark)
  • Integration with NPCI for cancellation request processing
  • Automated status updates in Mandate Detail Report accessible via Systematic Investment » Mandate » Mandate Search

Impact Justification

Operational update affecting mutual fund distributors and members using BSE StAR MF platform for mandate management. Impacts dormant mandate handling but does not affect active trading or listing activities.