Sebi asks listed firms to use electronic payment modes

Directs them to use e-payment modes like national electronic funds transfer and RTGS for making cash payments to investors

The market regulator, Securities and Exchange Board of India (Sebi), on Thursday directed listed companies to use electronic modes of payments like national electronic funds transfer and real time gross settlement for making cash payments to investors.

"Advancements in the field of electronic payment systems in the last decade have made available various other modes of electronic funds transfer. In view of such advancements, it has been decided to modify the framework," said Sebi.