Sebi launches e-payment mode for penalties

Move would help in enabling ease of payment, the Securities and Exchange Board of India said in a statement

Markets regulator Sebi has introduced electronic mode for payment of penalties, disgorgement as well as settlement amounts.

Currently, Sebi accepts payment through demand drafts.

The move would help in enabling ease of payment, the Securities and Exchange Board of India (Sebi) said in a statement on Monday.

In order to enable ease of paying penalties, disgorgement amounts, settlement amounts, legal charges and recovery amounts, Sebi is introducing an option for e-payment of such amounts," it added.

The regulator also advised all payees to forward the details and confirmation of the payments so made, to the concerned dealing department of Sebi for their records.