SEBI has also mandated that investors will provide their UPI ID, linked to their bank account, in the bid-cum-application form submitted to intermediaries.
Despite the raging Covid-19 pandemic and economic disruptions due to it, Indian investment banking activities grew, hitting a three-year high in 2020, with revenues touching $1.03 billion.
According to Refinitiv, investment banking revenues in India fell 33.6% in the first quarter of 2020 to $222 million from a year ago, the lowest since 2016 ($112.9 million).
