Sponsor Banks definition

Sponsor Banks shall have the meaning given to such term in the Preamble; “Stock Exchanges” shall mean BSE and NSE;

Sponsor Banks means Axis Bank Limited and HDFC Bank Limited, being Banker to the Offer registered with SEBI, appointed by the Company to act as a conduit between the Stock Exchanges and NPCI in order to push the mandate collect requests and/ or payment instructions of UPI Bidders using the UPI Mechanism, in terms of the UPI Circulars;

Sponsor Banks shall have the meaning ascribed to such term in the Preamble to this Agreement;

Examples of Sponsor Banks in a sentence

• The SCSBs, the Sponsor Banks and the Registrar to the Offer shall provide the relevant confirmations to the BRLMs in accordance with the UPI Circulars.

• The final payment of commission to the RTAs, CDPs and the Sponsor Banks shall be determined on the basis of (i) applications which have been considered eligible for the purpose of Allotment and (ii) the terminal from which the Bid has been uploaded (to determine the particular RTA, CDP or Sponsor Bank to whom the commission is payable).

• It is clarified that the Registrar shall be responsible for reconciliation of Bids and verifying the status of Bidders and the Sponsor Banks shall be responsible for the reconciliation of UPI Bids.

• The Company (on behalf of itself and the Selling Shareholders) shall be responsible for disbursing the aggregate amount of fees, commissions, expenses and other charges payable to the RTAs, the CDPs and the Sponsor Banks in relation to Bids accepted and uploaded by them in accordance with the Cash Escrow and Sponsor Bank Agreement (the relevant provisions for payment in respect of RIBs and Non-Institutional Bidders are set forth in Annexure B).

More Definitions of Sponsor Banks

Sponsor Banks means a Banker(s) to the Offer registered with SEBI which is appointed by the Company to act as a conduit between the Stock Exchanges and NPCI to facilitate usage of the UPI mechanism by UPI Investors;

Sponsor Banks has the meaning attributed to such term in the preamble of this Agreement.

Sponsor Banks has the meaning attributed to such term in the Offer Documents.

Sponsor Banks mean the banks / entities which are authorised to implement the E-Mandate Payments by inter alia receiving API calls from Razorpay for initiating E-Mandate Payments, communicating the necessary E-Mandate Registration information to NPCI, authentication by the Destination Bank and deduction of Bank Accounts, all in accordance with the Procedural Guidelines.

Sponsor Banks means the bankers to the Offer, who are appointed by the Company to act as a conduit between the Stock Exchanges and NPCI in order to push the mandate collect requests and/or payment instructions of the UPI Bidders using the UPI Mechanism and carry out any other responsibilities in terms of the SEBI UPI Circulars.

Sponsor Banks or “Sponsor Bank” shall have the meaning ascribed to such term in the Preamble;

Sponsor Banks means Bank(s) registered with SEBI which has been appointed by the Company to act as a conduit between the Stock Exchanges and the National Payments Corporation of India in order to push the mandate collect requests and/ or payment instructions of the UPI Bidders and carry out other responsibilities, in terms of the UPI Circulars, in this case being ICICI Bank Limited and HDFC Bank Limited;