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Investors beware! Stockbrokers can’t take cash, bank deposits from clients as SEBI pushes ‘Digital India’

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  • Date Added: Feb 03, 2020
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FINANCIALEXPRESS/PTI JUL-2018 Sebi has barred stock brokers from directly accepting cash from their clients as it looks to promote digital payments. Besides, stockbrokers are not permitted to receive cash deposits in their bank accounts from clients. “In view of the various modes of payment through electronic means available today, it is directed that stockbrokers shall not accept cash from their clients either directly or by way of cash deposit to the bank account of a stockbroker,” the regulator said in a circular.