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Depository Account Types
Most Important Terms and Conditions (MITC)
Depository Services Benefits
Depository Services Features
After you buy your shares you have to provide your Client ID number as well our Bank's DP (short for Depository Participant) number which is IN300870 so that your broker or seller (in case of off-market transaction) can instruct his DP to transfer these shares to your account with us.
Normally the credit of your shares is effected within one working day. When selling your shares please hand over to us your 'Delivery Instructions' in specially designed forms, supplied by us, similar to cheque book forms used in transactions of your account.
Shares and Securities are held in electronic form which are easily traded in the market since 99% of all trades in stock exchanges take place in dematerialised form.
- Facilities for pledge creation whenever you wish to avail of credit facilities against security of your shares.
- Convenience in effecting purchase and sale transactions electronically.
- No risk of bad deliveries due to difference in signature of seller as could occur with paper shares.
- Rights and bonus benefits are automatically credited to your account.
- No hassles of logistics in handling as against voluminous paper share certificates.
- Enhanced liquidity since there is no ' market lot' concept and you can sell even a single share.
- No risk of loss due to mutilation as they are in electronic form.
- Facility of freezing your demat account, especially if you are away for a long time, wherein only credits into your account will be allowed and no debit will be possible.
- Change in address recorded with us gets registered with all companies in which investor holds securities electronically eliminating the need to correspond with each of them separately.
- Transmission of securities is done eliminating correspondence with companies.
- Convenient method of consolidation of folios/accounts.
- You can hold investments in equity, debt instruments and G-Secs in a single account.
- Automatic credit into demat account of shares, arising out of split, consolidation, merger, etc.
- Power of attorney - You can authorise persons designated by you to operate your account by executing a power of attorney and submitting it to us, so that person can operate the account on your behalf.
- Standing Instruction for automatically crediting shares and securities received from the company without having to fill in receipt in slips on every occasion.
Depository Services Depository Account Types
NRI Depository Accounts are of two kinds:-
- Shares purchased through primary/secondary market prior to achieving NRI status.
- Shares purchased through secondary market under portfolio investment scheme with non-repatriable funds.
- Shares inherited from Indian resident family members.
- Shares purchased through primary market with repatriable funds.
- Shares purchased through secondary market under portfolio investment scheme for NRIs.
Depository Services Documentation
- Fill the form in block letters.
- Give your bank account number with full address and MICR no.
- Enclose a leaf of your cheque book duly marked "cancelled".
- Write PAN no./G.R. No. or "Not applied" or "Applied for", as the case may be.
- Paste photographs of the account holders and sign across the photographs.
- Attested copy of any one of the following documents should be submitted as a proof of residence:
- Ration card
- PAN card
- Voter identity card
- Driver's license
- Or any other official document
- Introduction should be given either by the Demat account holder or by your bank.
- Put your full signature on each page of the agreement.
- On the last page of the agreement, signature along with name and address is required as a witness.
- In case of H.U.F. A/c., a copy of the Karta's authenticity should be given with bank details.
- Foreign as well as local address should be given.
Note: Please submit a copy of RBI approval while submitting Demat request form and delivery instruction forms.
Depository Services Most Important Terms and Conditions (MITC)
- Separate accounts can be opened viz. single name joint names of two or more holders (but they have to operate jointly).
- The pattern of names and order of signatures should be exactly in the same order as appearing on the share/security certificates sought to be de-materialised.