Master Circular for Custodians

SEBI vide circular dated April 27, 2023 has issued Master Circular for Custodians. In addition to the requirements specified under this Master Circular, the custodians shall be required to independently comply with the other requirements specified by SEBI for market intermediaries such as:

1. The ‘Levy of Goods & Services Tax (GST) on the fees payable to SEBI’
2. ‘Approach to securities market data access and terms of usage of data provided by data sources in Indian securities market’
3. ‘Digital mode of payment’
4. ‘Information regarding Grievance Redressal Mechanism’
5. ‘Guidelines on Outsourcing of Activities by Intermediaries’, etc.