Towards making Indian Securities Market - Transparent, Efficient, & Investor friendly by providing safe, reliable, transparent and trusted record keeping platform for investors to hold and transfer securities in dematerialized form.
A Depository is an organization which holds securities of investors in electronic form. Depositories provide services to various market participants - Exchanges, Clearing Corporations, Depository Participants (DPs), Issuers and Investors in both primary as well as secondary markets. The depository carries out its activities through its agents which are known as Depository Participants (DP). Details available on the link [NSDL - https://nsdl.co.in/dpsch.php and CDSL - [https://www.cdslindia.com/DP/dplist.aspx]
(1) Basic Services
Sr. no. | Brief about the Activity / Service | Expected Timelines for processing by the DP after receipt of proper documents |
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1 | Dematerialization of securities | 7 days |
2 | Rematerialization of securities | 7 days |
3 | Mutual Fund Conversion / Destatementization | 5 days |
4 | Re-conversion / Restatementisation of Mutualfund units | 7 days |
5 | Transmission of securities | 7 days |
6 | Registering pledge request | 15 days |
7 | Closure of demat account | 30 days |
8 | Settlement Instruction | Depositories to accept physical DIS for pay-in of securities upto 4 p.m and DIS in electronic form upto 6 p.m on T+1 day |
(2) Depositories provide special services like pledge, hypothecation, internet based services etc. in addition to their core services and these include
Sr. no. | Type of Activity /Service | Brief about the Activity / Service |
---|---|---|
1 | Value Added Services | Depositories also provide value addedservices such as
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2 | Consolidated Account statement(CAS) | CAS is issued 10 days from the end of the month (if there were transactions in the previous month) or half yearly (if no transactions). |
3 | Digitalization of services provided by the depositories | Depositories offer below technology solutions and e-facilities to their demat account holders through DPs:
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(1) The Process of investor grievance redressal
1 | Investor Complaint/Grievances | Investor can lodge complaint/ grievance against the Depository/DP in the following ways:
(a) Electronic mode -
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2 | Investor Grievance Redressal Committee of Depository | If no amicable resolution is arrived, then the Investor has the option to refer the complaint/ grievance to the Grievance Redressal Committee (GRC) of the Depository. Upon receipt of reference, the GRC will endeavor to resolve the complaint/ grievance by hearing the parties, and examining the necessary information and documents. |
3 | Arbitration proceedings | The Investor may also avail the arbitration mechanism set out in the Byelaws and Business Rules/Operating Instructions of the Depository in relation to any grievance, or dispute relating to depository services. The arbitration reference shall be concluded by way of issue of an arbitral award within 4 months from the date of appointment of arbitrator(s). |
Sr. no. | Brief about the Activity / Service | Expected Timelines for processing by the DP after receipt of proper documents |
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1 |
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Client will have a right to transfer all its securities to any other Participant of its choice without any charges for the transfer within 30 days from the date of intimation by way of letter/email. |