February 1, 2008

To All Registered Merchant Bankers

 Dear Sirs,

 Sub.: Extending number of centers where refund shall be made through ECS in public/rights issues

1.This circular is being issued in exercise of the powers conferred under sub-section (1) of Section 11 of the Securities and Exchange Board of India Act, 1992.

2.On January 20, 2006, SEBI issued a Circular No SEBI/CFD/DIL/DIP/18/2006/20/1 to all Merchant Bankers informing them that to begin with, facility of refunds through ECS may be made available in 15 centers where clearing houses are managed by the Reserve Bank of India (RBI).This was in addition to other permissible modes of making refunds electronically viz NEFT, RTGS and Direct credit.

3.In consultation with RBI, it has now been decided to extend the facility of refund through ECS in public/rights issues to 68 centers as provided by RBI . List of these 68 centers is enclosed at Annexure I.

4.You are advised to ensure that suitable instructions for refunds through various modes are incorporated in the application form, abridged prospectus and the prospectus/letter of offer in an appropriate manner.

5.This circular shall come in to force with immediate effect. This circular is available on SEBI website at under the category “Legal framework”.

Yours faithfully,

Neelam Bhardwaj

Encl.: Annexure I  –  List of 68 centers as referred to in the circular

Annexure I

 List of ECS (Credit and Debit) Centres

Sl. No. Name of the Centre Sl. No. Name of the Centre
Managed by Reserve Bank of India Managed by State Bank of India
1. Ahmedabad 1. Baroda
2 Bangalore 2. Dehradun
3. Bhubaneshwar 3. Nashik
4. Kolkata 4. Panaji
5. Chandigarh 5. Surat
6. Chennai 6. Trichy
7. Guwahati 7. Trichur
8. Hyderabad 8. Jodhpur
9. Jaipur 9. Gwalior
10. Kanpur 10. Jabalpur
11. Mumbai 11. Raipur
12. Nagpur 12. Calicut
13. New Delhi 13. Siliguri (non-MICR)
14. Patna 14. Pondicherry
15. Thiruvananthapuram 15. Hubli
  16. Shimla (non-MICR)
  17. Tirupur
  18. Burdwan(non-MICR)
  19. Durgapur (non-MICR)
  20. Sholapur
  21. Ranchi
  22. Tirupati(non-MICR)
  23. Dhanbad(non-MICR)
  24. Nellore (non-MICR)
  25. Kakinada (non-MICR)
  Managed by Punjab National Bank
  1. Agra
  2. Allahabad
  3. Jalandhar
  4. Lucknow
  5. Ludhiana
  6. Varanasi
  7. Kolhapur
  8. Aurangabad
  9. Mysore
  10. Erode
  11. Udaipur
  12. Gorakhpur
  13. Jammu
  Managed by State Bank of Indore
  1. Indore


Sl. No. Name of the Centre
Managed by Union Bank of India
1. Pune
2. Salem
3. Jamshedpur
Managed by Andhra Bank
1. Visakhapatnam
Managed by Corporation Bank
1. Mangalore
Managed by Bank of Baroda
1. Coimbatore
2. Rajkot
Managed by State Bank of Travancore
1. Kochi/Ernakulam
Managed by Central Bank of India
1. Bhopal
Managed by Canara Bank
1. Madurai
Managed by Oriental Bank of Commerce
1. Amritsar
Managed by United Bank of India
1. Haldia (non- MICR)
Managed by State Bank of Hyderabad
1. Vijaywada
Managed by State Bank of Bikaner & Jaipur
1. Bhilwara

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