To, Members, Payment Aggregators, Payment Gateways

We are sharing an important update regarding the credit MIS reporting framework for mutual funds transactions through payment aggregators / Banks / agencies. As part of our commitment to continuously add operational efficiencies, we are undertaking a system upgrade that will result in partial changes in the credit MIS file format as mentioned in attached Annexure 1.

This update has already been communicated to the respective payment aggregators / agencies to ensure a smooth transition and adherence to the updated reporting requirements  We kindly request both members & payment aggregators to coordinate and align with the updated credit MIS format and ensure necessary modifications done to implement these  changes.

We have shared relevant file formats and also explained the respective changes to all payment aggregators / Banks / agencies at multiple intervals along with availability of UAT environment/ API/ SFTP details.

Please be advised that both the existing MIS format for Version 1 and the new Credit MIS format for Version 2 will operate concurrently. It is the responsibility of reporting agencies and members to ensure accurate and timely submission of transaction data in the respective formats applicable to each version.

Just to reiterate Funds mapping remain pending in case of mismatch between Funds Confirmation MIS and respective bank credits. Key mismatch reasons for non-mapping of funds         

ü  Incorrect data received in the fund confirmation MIS uploaded by the PAs/Agencies / Banks.

ü  Non-updation / delayed uploading of MIS by PAs/Agencies / Banks.

ü  Incorrect updations by members while registering client details on BSE StAR MF w.r.t.  Bank account number, IFSC code etc.

ü  Mismatch between amounts transferred as against Funds confirmation MIS uploaded

ü  Fund Confirmation MIS uploaded with incorrect or insufficient details viz. UTR No, etc. to match the corresponding bank credits

ü  Delayed response by bank/NPCI regarding fund transferred by PAs/Agencies to ICCL.

 Below are the timelines 

L0 Transactions

•         PAs/ Banks/Agencies to upload the Fund Confirmation MIS along with actual bank credit by 1 pm

Other than L0 Transactions

•         PAs/Banks /Agencies to upload the Fund Confirmation MIS along with actual bank credit by 2.30 pm

All the Members /Payment Aggregators / banks are advised that

-          Funds Confirmation MIS must be uploaded timely as mentioned above

-          Fund confirmation MIS should have correct UTR No; which should match with the UTR mentioned in the bank statement.

-          The amounts as per fund confirmation need to match with the actual bank credit

All the Members and Payment Aggregators are advised to comply with the directions issued by ICCL in this regard from time to time.

Members/PAs/Banks/Agencies are requested to contact Mr Rahul Mane on 22725760 for any clarifications with regard to the above process.

We are committed to making this transition as seamless as possible and appreciate your cooperation and understanding as we work together to enhance the system.

For Indian Clearing Corporation Limited

Mehul Parikh                                                                                                     AshfaqueAli Kazi

ADGM – Mutual Funds                                                                                      Deputy Manager