Payments banks can be investment bankers: SEBI

New Delhi, August 3

To provide easy access to investors to participate in public and rights issues by using various payment avenues, markets regulator SEBI on Tuesday allowed payments banks to carry out the activities of investment bankers.

Non-scheduled payments banks, which have prior approval from the Reserve Bank of India, will be eligible to act as a banker to an issue (BTI), SEBI said in a circular. This is subject to fulfilment of the conditions stipulated in the BTI rules. — PTI