Towards making Indian Securities Market - Transparent, Efficient, & Investor friendlyby providing safe, reliable, transparent and trusted record keeping platformforinvestors to hold and transfer securities in dematerialized form.
To hold securities of investors in dematerialized form and facilitate its transfer, while ensuring safekeeping of securities and protecting interest of investors.
To provide timely and accurate information to investors with regard to their holdingand transfer of securities held by them.
To provide the highest standards of investor education, investor awarenessandtimely services so as to enhance Investor Protection and create awarenessabout Investor Rights.
A Depository is an organization which holds securities of investors in electronicform. Depositories provide services to various market participants - Exchanges, ClearingCorporations, Depository Participants (DPs), Issuers and Investors in both primaryaswell as secondary markets. The depository carries out its activities through its agentswhich are known as Depository Participants (DP). Details available on the link [https://www.cdslindia.com/DP/dplist.aspx].
|S.No.||Brief about the Activity / Service||Expected Timelines for processing by the DP after receipt of proper documents|
|1.||Dematerialization of securities||7 days|
|2.||Rematerialization of securities||7 days|
|3.||Mutual Fund Conversion / Destatementization||5 days|
|4.||Re-conversion / Restatementisation of Mutual fund 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 up to 4 p.m. and DIS in electronic form up to 6 p.m. on T+1 day|
Depositories provide special services like pledge, hypothecation, internet-based services etc. in addition to their core services and these include
|S.No.||Type of Activity /Service||Brief about the Activity / Service|
|1.||Value Added Services||
Depositories also provide value added services such as
|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 provided services by the depositories||
Depositories offer below technology solutions and e-facilities to their demat account holders through DPs:
The Process of investor grievance redressal
|1.||Investor Complaint/ Grievances||
Investor can lodge complaint/ grievance against the Depository/DP in the following ways:
The complaints/ grievances lodged directly with the Depository shall be resolved within 30 days.
|2.||Investor Grievance Redressal Committee of Depository||If no amicable resolution is arrived, then the Investor has the option torefer thecomplaint/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).|
For the Multi-level complaint resolution mechanism available at the Depositories please refer to link.
|S.No.||Type of special circumstances||Timelines for the Activity / Service|
||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.|
For Do’s and Don’ts please refer to the link.
For rights, please refer to the link.
For responsibilities, please refer to the link.