Name of the Organization : Central Depository Services India Ltd (cdslindia.com)
Type of Facility : Open Demat Account Online
Location : Mumbai
Website : http://www.cdslindia.com/
Central Depository Services India Ltd:
Register Online For easi: https://www.indianjobtalks.in/24536.html
Register For SMART: https://www.indianjobtalks.in/24528.html
Avail ECN Services: https://www.indianjobtalks.in/6522.html
Demat Account :
To open your Demat Account, you first need to select a Depository Participant, or DP, of your convenience. CDSL has a host of top-notch DP’s spread across the length and breadth of the country. Use our search engine below to find a DP who is located closest to your home or place of work.
Once you make your selection, you will be taken to an informative page of your chosen DP. If you are satisfied with what you read, use any of the two options in the top-right of the DP page to open your demat account.
Apply Now : http://www.cdslindia.com/investors/open-demat.aspx
Benefits :
A demat account has become a necessity for all categories of investors for the following :
a. SEBI has made it compulsory for trades in all listed scrips to be settled in demat mode. Although, trades upto 500 shares can be settled in physical form, physical settlement is virtually not taking place for the apprehension of bad delivery on account of mismatch of signatures, forgery of signatures, fake certificates etc.
b. It is a safe and convenient way to hold securities compared to holding securities in physical form.
c. No stamp duty is levied on transfer of securities held in demat form.
d. Instantaneous transfer of securities enhances liquidity.
e. It eliminates delays, thefts, interceptions and subsequent misuse of certificates.
f. Change of address, registration of Power of Attorney – can be effected across companies by one single instruction to the DP.
g. Each share is a market lot for the purpose of transactions – so no odd lot problem.
h. Any number of securities can be transferred / delivered with one delivery instruction. Therefore, paperwork and signing of multiple transfer forms is done away with.
i. It facilitates taking loans / advances against securities.
j. Immediate credits in case of any allotment in bonus, rights issues and IPOs.
Benefits of opening a demat account with CDSL :
a. The unique centralized database of CDSL enables DPs to debit/credit securities instantaneously to the BO’s account.
b. CDSL allots a unique demat account number to each investor, which ensures debit/credit of securities only to the intended account. Thus, if an account number is keyed in incorrectly, CDSL system will not effect the transaction.
c. CDSL offers a settlement facility to its BO’s under which securities sold or purchased by them, through any broker on BSE/NSE, can be directly debited/credited in their BO account without routing it, through the broker’s pool account.
d. The cost for settlement of securities through CDSL is lower in most cases. Thus, BOs can expect a lower charge in respect of securities held in CDSL accounts.
e. Investors can monitor and access their holding and the status of their transactions in their accounts through CDSL’s internet based facility ‘easi’. Further, using CDSL’s internet based facility ‘easiest’ BOs can also submit settlement instructions through the internet.
HUF Account :
HUF stands for Hindu Undivided Family. It is a demat account opened for managing securities of a family. The account is managed by a ‘Karta’ who is a male member of the family and other members of the family are termed as ‘Co-parceners’. Karta manages the HUF account on behalf of the Co-parceners.
Documents Required For Opening HUF Account :
Following documents have to be obtained for opening a HUF account :
** Proof if Identity / Address for Karta
** Bank Pass Book indicating the existence of HUF entity.
** PAN Card of the Karta to be obtained and taken on record. However, the PAN details of the HUF entity would have to be obtained and entered in the CDSL system.
** Declaration by Karta giving details of the family member’s i.e. co-parceners, of the HUF with their names, sex (male/ ), date of birth and relationship with the Karta.
For More Details, Click Here : https://www.indianjobtalks.in/uploads…%20Opening.pdf
Contact Postal Address :
Central Depository Services (India) Limited
17th floor, P J Towers, Dalal Street,
Fort, Mumbai – 400001