Source: News Bharati English15 Jan 2017 16:00:08
New Delhi, January 15: Securities and Exchange Board of India, SEBI, has decided to lower broker fees by 25 per cent to 15 rupees per transaction of one crore rupees as part of calibration of various other fees collected by the regulator from different market intermediaries. The move is likely to reduce overall cost of transactions.
It also decided to give an option to all market intermediaries and companies to make their regulatory payments in digital mode. The move would help in reducing failures due to payment gateway issues.
In a statement issued after its board meeting today, SEBI said, a proposal to levy certain new charges was also approved, including filing fee for draft scheme of arrangements and processing fee on application for relaxation in certain regulations.
The board also decided to align the fees payable under SEBI (Buy-back of Securities) Regulations, 1998 with the fee payable under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Fee charged the act has been revised to Rs.5.00 lakhs from Rs.3.00 lakhs.