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Overview of ISE Depository Services
Complementing the stock trading function, ISE’s
depository participant (DP) services reach out to
intermediaries and investors at industry – leading
prices. The full suite of DP services are offered
using online software, accessible through multiple
connectivity modes – leased lines, VSATs and
internet. Operation of the demat account by a
client requires just a few mouse clicks. Customers
can avail DP Services from ISE through its network
of 144 Collection Centers spread across the
country.
DP SEBI REGN. NO. IN – DP – CDSL – 143 - 2001 and IN – DP – NSDL-88-99
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Faq's of ISE Depository Services
1. What is a depository?
Ans. A depository can be compared to a bank. A depository holds
securities (like shares, debentures, bonds, Government Securities, units etc.)
of investors in electronic form. Besides holding securities, a depository also
provides services related to transactions in securities.
2. How can I avail the service of a depository?
Ans. A depository interfaces with the investors through its agents
called Depository Participants (DPs). If an investor wants to avail the
services offered by the depository, the investor has to open an account with a
DP. This is similar to opening an account with any branch of a bank in order to
utilise the bank's services. Suggestions on how to select a DP are given in
Section IV.
3.What are the benefits of participation in a depository?
Ans. The benefits of participation in a depository are:
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Immediate transfer of securities;
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No stamp duty on transfer of securities;
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Elimination of risks associated with physical certificates such as bad delivery
, fake securities , etc.;
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Reduction in paperwork involved in transfer of securities;
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Reduction in transaction cost;
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Nomination facility;
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Change in address recorded with DP gets registered electronically with all
companies in which investor holds securities eliminating the need to correspond
with each of them separately;
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Transmission of securities is done by DP eliminating correspondence with
companies;
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Convenient method of consolidation of folios/accounts ;
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Holding investments in equity, debt instruments and Government securities in a
single account; Automatic credit into demat account, of shares, arising out of
split/consolidation/merger etc.
4. What are the facilities offered by NSDL/CDSL?
Ans. NSDL/CDSL offers following facilities: -
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Dematerialisation i.e., converting physical certificates to electronic form;
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Rematerialisation i.e., conversion of securities in demat form into physical
certificates;
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Facilitating repurchase / redemption of units of mutual funds;
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Electronic settlement of trades in stock exchanges connected to NSDL/CDSL;
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Pledging/hypothecation of dematerialised securities against loan;
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Electronic credit of securities allotted in public issues, rights issue;
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Receipt of non-cash corporate benefits such as bonus, in electronic form;
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Freezing of demat accounts, so that the debits from the account are not
permitted;
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Nomination facility for demat accounts;
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Services related to change of address;
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Effecting transmission of securities;
Other facilities viz. holding debt instruments in the same account, availing
stock lending/borrowing facility, etc.
5.You mentioned that I would have to open an account with a DP if I want to
participate in the depository. Who is a DP?
Ans. CDSL/NSDL provides its services to investors through its agents
called depository participants (DPs). These agents are appointed by CDSL/NSDL
with the approval of SEBI. According to SEBI regulations, amongst others, three
categories of entities i.e. Banks, Financial Institutions and Members of Stock
Exchanges [brokers] registered with SEBI can become DPs.
6. How do I select a DP?
Ans. You can select your DP to open a demat account just like you select
a bank for opening a savings account. Some of the important factors for
selection of a DP can be:
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Convenience - Proximity to your office/residence, business hours.
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Comfort - Reputation of the DP, past association with the organisation, whether
the DP is in a position to give the specific service you may need?
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Cost - The service charges levied by DP and the service standards.
In order to obtain the complete list of DP locations and their comparative
charge structure, you may log on to www.nsdl.co.in or else you may write to
NSDL for the same.
7. Whether all the DPs are same?
Ans. All the DPs are appointed subject to fulfilment of uniform
requirements of SEBI ( Depositories and Participants) Regulations, 1996 and
requirements of CDSL/NSDL. However, the type of services offered and the
service standards may differ among various DPs. For example, a DP branch having
direct connectivity with the main office having depository set-up may be in a
position to execute instructions faster.
8. What should I do when I want to open an account with a DP?
Ans. You can approach any DP of your choice and fill up an account
opening form. At the time of opening an account, you have to sign an agreement
with DP in a CDSL/NSDL prescribed standard agreement, which details your and
your DPs rights and duties. All investors have to submit following proof of
identity and proof of address along with the prescribed account opening form
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Proof of Identity : Your signature and photograph must be authenticated by an
existing demat account holder with the same DP or by your bank . Alternatively,
you can submit a copy of Passport, Voters Id Card, Driving License or PAN card
with photograph.
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Proof of Address : You can submit a copy of Passport, Voters Id Card, Driving
License or PAN card with photograph, ration card or bank passbook as proof of
address.
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Passport-size photograph.
You must remember to take original documents to the DP for verification. You
should remember to obtain a copy of the agreement and schedule of charges for
your future reference.
9. Can I open more than one account with the same DP?
Ans. Yes. You can open more than one account with the same DP. There is
no restriction on the number of accounts you can open with a DP.
10.Am I restricted to having account with only one DP?
Ans. No. There are no restrictions on the number of DPs you can open
accounts with. Just as you can have savings or current accounts with more than
one bank, you can open accounts with more than one DP.
11. Do I have to keep any minimum balance of securities in my account with my
DP?
Ans. No. The depository has not prescribed any minimum balance. You can
have zero balance in your account.
12. Can I open a single account for securities owned in different ownership
patterns such as securities owned individually and securities owned along-with
my wife ?
Ans. No. The demat account must be opened in the same ownership pattern
in which the securities are held in the physical form. e. g. if one share
certificate is in your individual name and another certificate is jointly held
in your and your wife's name , two different accounts would have to be opened.
13. What do I do if I have physical certificates with the same combination of
names, but the sequence of names is different. i.e. some certificates with
husband as first holder and wife as second holder and other set of certificates
with wife as first holder and husband as the second holder?
Ans. In this case you may open only one account with husband and wife as
the account holders and lodge the security certificates with different order of
names for dematerialisation in the same account. You will fill-up an additional
form called " Transposition cum Demat" form. This would help you to effect
change in the order of names as well as dematerialise the securities.
14. Can someone else operate my account on my behalf on the basis of a power of
attorney ?
Ans. Yes. If you authorise any person to operate your account by
executing a power of attorney and submit it to your DP, that person can operate
the account on your behalf.
15. Why should I give my bank account details at the time of account opening?
Ans. It is for protection of your interest. Your bank account number
will be mentioned on the interest or dividend warrant, you are entitled to, so
that such warrant cannot be encashed by any one else. Further, a DP cannot open
the account if bank account number is not given.
16. Can I change details of my bank account?
Ans. Yes. Since in the depository system monetary benefits on your
security balances are paid as per the bank account details provided by you at
the time of account opening , you must ensure that any subsequent change in
bank account details is informed to your depository participant.
17. What is 'Standing Instruction' given in the account opening form?
Ans. In a bank account, credit to the account is given only when a
'paying in' slip is submitted together with cash/cheque. Similarly, in a
depository account 'Receipt in' form has to be submitted to receive securities
in the account. However, for the convenience of investors, facility of
'standing instruction' is given. If you say 'Yes' for standing instruction, you
need not submit 'Receipt in' slip everytime you buy securities.
18. Can I operate a joint account on "either or survivor" basis just like a bank
account? Ans. No. The demat account cannot be operated on
"either or survivor" basis like the bank account.
19. Can I add or delete names of accountholders (second or third accountholder)
after opening the account ?
Ans. No. Names of the accountholders for a depository account cannot be
changed. If you want to change name or add / delete an accountholder, you need
to open a new account in the desired holding pattern (names) and transfer the
securities to the newly opened account. The old account may be closed.
20.
What should I do if my address is changed? Do I
need to write to each company separately?
Ans. In case your address is changed, you only need to inform the new
address to your DP(s). When DP enters the new address in the depository
computer system, it will be automatically conveyed to all companies in which
you hold shares.
21. Can I close my demat account with one DP and transfer all securities to my
account with another DP ?
Ans. Yes. You can submit account closure request to your DP in
prescribed form. Your DP will transfer all your securities, as per your
instruction, and close your demat account.
22. What would be the charges for account closure and securities transfer due to
account closing?
Ans. The charges would be as per the schedule of charges of your DP,
agreed by you at the time of account opening or any subsequent changes therein.
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| Application Form of ISE Depository Services |
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| Application Form
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| Nomination Form |
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| Account Opening Form for other Entities |
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| Closing Account Request Form |
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| Account Modification / Deletion Request Form |
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| Dematerialisation Request Form |
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| Rematerialisation Request Form |
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| Pledge Request Form |
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| Transmission Request Form Death of one of the joint holder |
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| Transmission Request form Death of sole holder |
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| Transposition Request form |
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| Transmission cum dematerialisation Form |
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| Unpledge Request Form |
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| SMART-Registration-Modification-Form |
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| Freeze-Unfreeze Request Form |
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| Invocation Request Form |
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| MF DRF FORM |
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| Repurchase Request Form |
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| Depository
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| Collection Centers of ISE Depository Services |
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| Collection Centers
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| ACTIVE COLLECTION CENTER DETAILS |
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| Depository
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| DOS AND DON'TS |
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1. Do’s
- Register for CDSL's
internet based facility 'easi' to monitor your
demat account yourself. Contact ISE DP for
details.
- Accept the DIS book
from ISE DP only if each slip has been
pre-printed the a serial number along with your
demat account number and keep it in safe
custody.
- Always mention the
details like ISIN, number of securities
accurately. In case of any queries, please
contact ISE DP or broker.
- Ensure that all demat
account holder(s) sign on the DIS.
- Please strike out the
any blank space on the slip.
- Cancellations or
corrections on the DIS should be initialed or
signed all the account holder(s).
- Submit the DIS ahead of
the delivery date for all type of market
transactions. DIS can be issued with a future
execution date.
- Intimate any change of
address or change in bank account details to ISE
DP immediately.
- Check the demat
performance of the issuer company with ISE DP
before deciding to send certificates for demat.
The list of companies whose demat request are
pending is published at www.cdslindia.com.
- Before sending
securities for demat, record the distinctive
numbers of the securities sent.
- Before granting Power
of Attorney to anyone, to operate your demat
account, carefully examine the scope &
implications of powers being granted.
- The demat account has a
nomination facility and it is advisable to
appoint a nominee, in case of sole account
holders.
- Ensure that, both, your
holding and transaction statements are received
periodically as instructed to ISE DP. You are
entitled to receive a transaction statement
every month if you have any transactions and
once a quarter if there have been no
transactions in your account.
- Check your demat account statement on receipt. In case you notice any unauthorized debits or credits, contact ISE DP for clarification. If not resolved, you may contact CDSL's Investor Relations Officer, Mr. Suhas Kulkarni, Central Depository Services (India) Ltd., 17th Floor, P.J.Towers, Dalal Street, Mumbai - 400 001,Tel. 2272 3333 , email-investors@cdslindia.com
2. Don'ts
- Do not leave your
instruction slip book with anyone else.
- Do not sign blank DIS
as it is equivalent to a bearer cheque.
- Avoid over-writing,
cancellations, misspellings, changing of the
name and quantity of securities.
- We request you to meticulously follow the above instructions, to avoid any problems in operation of your demat account.
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| DPCharges of ISE Depository Services |
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| Rate Structure of ISE DP w.e.f. June 1, 2007 |
| Depository Services Offered by ISE DP | For Collection Center Clients | For Walk-In Clients |
| Account opening charge | Only Stamp Duty Charges Payable | Only Stamp Duty Charges Payable |
Annual Maintenance charge Individual
Corporate | Rs. 300/-
Rs. 800/- (Rs.500/- Payable to CDSL as their Charges) | Rs.300/-
Rs.800/- (Rs.500/- Payable to CDSL as their Charges ) |
| Custody charge | Nil | Nil |
| Dematerialisation | Rs.6/- Per Certificate + Courier Charges of Rs.30/- | Rs.3/- per Certificate +Courier Charges ofRs.30/- |
| Demat rejection | Rs.20/- Per DRF + Courier Charges of Rs. 30/- | Rs.20/- Per DRF +Courier Charges of Rs.30/- |
| Rematerialisation | Rs.15/- Per Every 100 Shares or part thereof Or Rs.15/- Per Certificate Whichever is higher | Rs.15/- Per Every 100 Shares or part thereof Or Rs.15/- Per Certificate Whichever is higher |
| Transaction (Debit) | Rs.15/- | Rs.18/- |
| Transaction (Credit) | Nil | Nil |
| Failed instruction | Nil | Nil |
| Pledge Creation | Rs.24/- Per Transaction | Rs.24/- Per Transaction |
| Pledge Creation Confirmation | Rs.24/- Per Transaction | Rs.24/- Per Transaction |
| Pledge Closure | Rs.24/- Per Transaction | Rs.24/- Per Transaction |
| Pledge Closure Confirmation | Rs.24/- Per Transaction | Rs.24/- Per Transaction |
| Pledge Invocation | Rs.50/- Per Transaction | Rs.50/- Per Transaction |
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Notes :
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Annual Maintenance
Charges (AMC) will be levied on pro-rata basis
for the first financial year. Thereafter AMC for
the next financial year shall be levied up
-front in April. AMC shall not be refunded if
the account is closed during the new financial
year
- Service Tax will be
charged in addition to the above mentioned
rates.
- Any service not covered
above will be charged separately.
- Charges are subject to
revision at the company’s sole discretion and
also due to changes in the tariff rates of CDSL
- ISE reserves the right to change the rates from time to time by giving one month notice.
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