SEBI allows payments banks to act as investment bankers

Market regulator SEBI has allowed payments banks to carry out the activities of investment bankers. Non-scheduled payments banks, which have prior approval from the RBI, will also be eligible to act as a banker to an issue (BTI), it added. "The blocking/movement of funds from...investor to issuer shall...be made through...savings account of...investor held with the payments bank," SEBI said.