National Securities Depository Limited
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Statistics

Statistics

November 30, 2018

arraw Investor Accounts - 1,79,47,363
arraw DP Service Centres - 30,761
arraw Demat Custody Value - 175.85
(₹ Lakh Crore)(US$ 2,520 billion)
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Home  :  Services  :  Basic Services :  Transmission

Transactions in Accounts

12.1. Account Opening
12.1.1.
Any person desiring to become a Client of the Participant shall make an application as per the forms which have been laid out in Annexures J and K of these Business Rules
12.1.2.
The Participant shall ensure that the application form submitted by the Client is completely filled, including the Bank Account particulars of the Client, and properly signed.
12.1.3.
When the application referred to above has been found to be valid and accepted by the Participant and after the agreement specified under Annexure B of the Bye Laws has been signed, the Participant shall enter the data (on the application form) into the DPM (DP) which will generate a Client account number which shall be referenced by the Client for all its transactions in the Depository system.
12.1.4.
The applicant may open an account either singly or with one or more joint holders.
   
12.2. Market Trades
12.2.1.
The Participant shall effect a debit or credit to the accounts of its Clients only on receipt of proper authorisation from the Clients in the forms laid out in Annexures L and M. Alternatively, a Client may give standing instructions to its Participant to credit its account.
12.2.2.
The aforementioned forms submitted by the Clients and Clearing Members shall be checked by the Participant to ensure the completeness of the form and validity of the signature of the Client and the Clearing Member before the requests on these forms are executed.
   
12.3. Off - Market Trades
12.3.1.
Transfer of securities in respect of off market trades shall be effected on receipt of a duly filled in securities transfer instruction form from the Clients for delivery as well as a securities transfer instruction form from the Clients for receipt. The specimen of these forms have been laid out in Annexure L and M respectively as specified in Rule 12.2.1 above. Alternatively, a Client may give standing instructions to its Participant to credit its account.
12.3.2.
The Participant should check for the completeness of the form and validity of the signature of the Client before effecting such transfers.
   
12.4. Corporate Benefits
12.4.1.
The Issuer or its Registrar & Transfer Agent shall intimate the Depository on the next day of communication to the relevant stock exchange where the eligible security is listed, of the corporate actions which would herein mean and include any action taken by the Issuer relating to prescribing dates for book closures, record dates, dates for redemption or maturity of security, dates of conversion of debentures, warrants, call money dates and such other action from time to time.
12.4.2.
On receiving the intimation as stated above, the Depository shall inform all the Participants about the corporate action.
12.4.3.
All Participants must thereafter ensure that:

  • changes such as tax status, bank details, change of address, etc. in the beneficial owner accounts are updated well in advance of the record date/book closure.
  • there are no balances lying in the CM Accounts or the Intermediary Accounts on the EOD of the record date or the EOD of one business day prior to the commencement of book closure.
  • they remain connected till the EOD of the record date or the EOD of one business day prior to the commencement of book closure.
12.4.4.
The Depository shall provide the details of the holdings of the beneficial owners electronically to the Issuer or its Registrar and Transfer Agent as of the relevant record date/book closure for the purpose of corporate actions and distribution of corporate benefits. If there are balances lying in the CM Accounts or Intermediary Accounts, such balances will be reported to Issuer or its Registrar and Transfer Agent as transit account position.
12.4.5.
The Issuer or its Registrar and Transfer Agent may obtain the details of the tax status of beneficial owners from the list of beneficial owners provided by the Depository.
12.4.6.
The Issuer or its Registrar and Transfer Agent shall distribute dividend, interest and other monetary benefits directly to the beneficial owners on the basis of the list provided by the Depository.
12.4.7.
If the benefits are in the form of eligible securities, the Issuer or its Registrar & Transfer Agent shall provide an option to all shareholders to receive the certificate(s) of securities or receive credit in their client accounts. Those shareholders who wish to receive their securities in electronic form, shall do so by providing the details of their DP id and the Client id. Based on the option exercised by the shareholders, the Issuer or its Registrar and Transfer Agent shall issue the certificate(s) of securities or credit the securities to the account of the client. In case the shareholder does not respond, the Issuer or its Registrar & Transfer Agent shall issue the securities in the form in which the shareholder held the securities as on the record date.
12.4.8.
In such a case, the Issuer or its Registrar and Transfer Agent shall provide to the Depository allotment details of all beneficial owners in an electronic form.
12.4.9.
On receipt of allotment details, the Depository shall cause necessary credit entries to be made in the accounts of the beneficial owners on a date requested by Issuer or its Registrar and Transfer Agent. (hereinafter referred to as execution date)
12.4.10.
In case of records rejected by the Depository, the Issuer or Registrar and its Transfer Agent shall send the rectified records to the Depository within seven days from the execution date. In case the Issuer or its Registrar and Transfer Agent fails to send the rectified records within seven days from the execution date, it shall proceed to issue securities in the physical form in respect of the unrectified records.
12.4.11.
In respect of transit account position referred to in Rule 12.4.4 above, the Issuer or its Registrar and Transfer Agent shall keep the corporate benefits in abeyance till the beneficiary ownership is determined and provided by the Depository. After determination of the beneficial owners, the issuer shall distribute the corporate benefits. If the benefits are in the form of securities, the Issuer or its Registrar and Transfer Agent shall distribute the benefits as per Rule 12.4.7.
12.4.12.
At the time of crediting the accounts of beneficial owners, if the accounts are either in the status of "to be closed" or "suspended for all", then such allotments will be credited to "DP Suspense Accounts" by the Depository. The Depository shall carry out a suspense reversal function and credit the relevant beneficial owner after resolving the balances in "DP Suspense Accounts".
   
12.5. Public Issues
12.5.1.
If the newly created security is an eligible security, the Issuer or its Registrar Agent shall provide an option to the beneficial owners to be allotted securities either in physical or electronic form. In respect of those beneficial owners who opt for electronic securities the Issuer or its Registrar & Transfer Agent shall obtain the DP Id and beneficial owners account number to which the securities are to be credited. In case the beneficial owner does not indicate any choice, the Issuer or its Registrar & Transfer Agent shall issue the securities in a physical form.
12.5.2.
The Issuer or its Registrar & Transfer Agent shall provide to the Depository, allotment details of all beneficial owners in an electronic form.
12.5.3.
On receipt of allotment details, the Depository shall cause necessary credit entries to be made in the accounts of the beneficial owners on a date requested by Issuer or its Registrar & Transfer Agent. (hereinafter referred to as execution date)
12.5.4.
In case of records rejected by the Depository, the Issuer or its Registrar & Transfer Agent shall send the rectified records to the Depository within seven days from the execution date. In case the Issuer or its Registrar & Transfer Agent fails to send the rectified records within seven days from the execution date, it shall proceed to issue securities in the physical form in respect of the unrectified records.
12.5.5.
At the time of crediting the accounts of beneficial owners, if the accounts are either in the status of "to be closed" or "suspended for all", then such allotments will be credited to "DP Suspense Accounts" by the Depository. The Depository shall carry out a suspense reversal function and credit the relevant beneficial owners accounts after resolving the balances in "DP Suspense Accounts".
   
12.6. Account Transfer in case of Transmission
12.6.1.
Transmission of Securities held jointly in the Depository

12.6.1.1.
In case of death of one of the Clients in a joint account, the surviving Client(s) shall request the Participant to transmit the balances lying in the Client account to the account of the surviving Client(s). The surviving Client(s) shall make an application to the Participant in the form specified in Annexure O alongwith a copy of the death certificate duly notarised.
12.6.1.2.
The Participant shall verify the death certificate and the signature of the surviving Client(s) before effecting the transmission.
12.6.1.3.
The Participant after being fully satisfied on all aspects, shall then effect transfer of the balances to the account of the surviving Client(s). For this purpose, the Participant may conduct such further enquiries as may be deemed necessary.
12.6.1.4.
After effecting the transmission, the Participant shall close the account of the deceased.

12.6.2.
Transmission of Securities held singly in the Depository

12.6.2.1.
In case of death of the sole Client, the legal heir(s) or legal representative(s) of the deceased shall request the Participant to transmit the balances lying in the Client account of the deceased to the account of the legal heir(s) or legal representative(s).
12.6.2.2.
The legal heir (s) or the legal representative(s) of such securities shall make an application to the Participant in the form specified in Annexure O alongwith the following documents.

  • A copy of the death certificate duly notarised.
  • A copy of the Succession certificate duly notarised or an order of a court of competent jurisdiction where the deceased has not left a Will; or
  • A copy of the Probate or Letter of Administration duly notarised.
12.6.2.3.
However, if the legal heir(s) or the legal representative(s) express inability to produce either of the documents mentioned under (ii) and (iii) above, and the market value of the securities held in each of the account of the deceased as on the date of application for transmission does not exceed Rs. 1,00,000/- then the Participant shall process the transmission request on the basis of the following documents:

  • Request for transmission in Annexure O;
  • Copy of the death certificate duly notarised;
  • Letter of Indemnity duly supported by a guarantee of an independent Surety acceptable to the Participant, made on appropriate non judicial stamp paper;
  • An Affidavit made on appropriate non judicial stamp paper; and
  • No Objection Certificate(s) from all the legal heir(s) who do not object to such transmission.
12.6.2.4.
The Participant shall ensure that the documents submitted by the legal heir(s) or the legal representative(s) are in order and shall then effect a transfer of the balances to the Client account of the legal heir(s) or the legal representative(s).
12.6.2.5.
After effecting the transmission, the Participant shall close the account of the deceased.

12.6.3. Transmission of Securities in case of Nomination

12.6.3.1.
The Client(s) may make a nomination of his/their account in favour of any person by filing with the relevant Participant the form laid out in Annexure JA of these Business Rules. In the case of joint accounts, all the Clients shall be required to affix their signatures to the said form. Such nomination shall be conclusive evidence of the Client(s) disposition in respect of all the securities in the account for which nomination has been made.
12.6.3.2.
A nomination once made shall not be considered to have been varied, substituted or canceled, unless the Client(s) files another form as laid out in Annexure JA with the Participant, expressly signifying the interest to vary, substitute or cancel all nominations made earlier. Unless a fresh variation, substitution or cancellation is registered with the Participant, the Depository shall consider the nomination last validly recorded in its books as being conclusive evidence of the Client(s)'disposition in respect of the securities.
12.6.3.3.
A nomination, substitution shall be valid only if :-

  • it is submitted to the Participant by the rightful Client(s) or under his/their due authority.
  • it is in prescribed form (Annexure J/JA)
  • it is duly signed by Client(s)
  • it is properly signed and witnessed
  • signature of the Client(s) tally with the specimen signature records
  • the details of the securities entered in the nomination forms match those in the records of the Participant
  • the photograph of the Nominee is annexed to the nomination form
  • the Nominee has signed the nomination form and guardian in case of the nominee being a minor
12.6.3.4.
If the form is valid in all respects and accepted by the Participant, the Participant shall register the nomination by generating a ie Nomination Registration Number ("NRN"), enter the same in the DPM (DP) and confirm the same to the Client(s) in writing.
12.6.3.5.
In the event of a substitution/ cancellation of a nomination a fresh NRN or a written certification of cancellation, as the case may be, shall be generated by the Participant and given to the Client(s) and the DPM (DP) shall be updated.
12.6.3.6.
The Participant shall at all times, irrespective of subsequent variations and cancellations, maintain an updated "Register of Nominations" which shall contain the following information :-

  • Serial number
  • Date of Registration
  • Nomination Registration Number
  • Certificate of Cancellation of nomination
  • Account number of the Client(s)
  • Name(s) of the Client(s)
  • Address of the Client(s)
  • Name of nominee
  • Address of nominee
  • Schedule date of attaining majority (if the Nominee is a minor)
  • All details of variation/ cancellation of nomination with respective dates
  • Remarks and observations of the Participant, if any
  • In case the nominee is a minor, the DP shall ensure that a fresh photograph and the signatures of the nominee are obtained once in every five years.
12.6.3.7.
The Participant shall ensure that such register is maintained properly and is verified periodically. All the nominations received should be bound and preserved for record purposes. These records shall form part of the records of the Participant.
12.6.3.8.
Upon the death of the sole Client or the death of all the Clients, as the case may be, the nominee shall request the Participant in writing alongwith a certified true copy of the death certificate (or a duplicate copy of the death certificate if original lost or misplaced) issued by the competent authority to transmit the securities covered by the nomination to the account of the Nominee, held with any Depository. If the Nominee does not have an account with the Depository, the Nominee shall be required to open an account with any Depository
12.6.3.9.
The provisions relating to Annexure "O" shall apply mutatis mutandis to the process of transmission of securities to the Nominee.
12.6.3.10.
Before executing any request made under any of the forms in respect of nomination, the Participant shall ensure the completeness of the form and validity of the signature of the Client(s).
12.6.3.11.
The details of various nominations made by the Client(s) shall form an integral part of the records of the Participant, Depository and the Issuer or its Registrar and Transfer Agent under Chapter 16 of these Business Rules and shall be reconciled in accordance with Chapter 15 of these Business Rules.

   
12.7. Freezing of an Account
12.7.1.
A Client may freeze its account in the manner provided under the Bye Laws by making an application to the Participant in the form specified in Annexure P. The Client may defreeze its account frozen in the manner specified in the Bye Laws by making an application in the form specified in Annexure P.
12.7.2.
The Participant shall ensure that the form is complete and the signature of the Client is valid.
   
12.8. Closure of an Account
12.8.1.
A Client desiring to close an account shall make an application in the form specified in Annexure Q.
12.8.2.
The Participant shall ensure that the form is complete and the signature of the Client is valid.
   
12.9. Pledge
12.9.1.
The Participant of the pledgor shall request creation of pledge on receipt of the pledge creation form as laid out in Annexure W from the pledgor.
12.9.2.
The Participant of the pledgee shall request confirmation of creation of pledge on receipt of the pledge creation confirmation form as laid out in Annexure W from the pledgee.
12.9.3.
On receipt of the request and confirmation for creation of pledge from the pledgor and pledgee respectively through their Participants, the Depository may create the pledge.
12.9.4.
The Participant of the pledgor shall request closure of pledge on receipt of the pledge closure form as laid out in Annexure W from the pledgor.
12.9.5.
The Participant of the pledgee shall request confirmation of closure of pledge on receipt of the pledge closure confirmation form as laid out in Annexure W from the pledgee.
12.9.6.
On receipt of the request and confirmation for closure of pledge from the pledgor and pledgee respectively through their Participants, the Depository may close the pledge.
12.9.7.
The Participant of the pledgee shall request invocation of pledge on receipt of the pledge invocation form as laid out in Annexure W from the pledgee.
12.9.8.
On receipt of the request for invocation of pledge from the pledgee through its Participant, the Depository may amend its records.
12.9.9.
The aforementioned forms submitted by the pledgor and pledgee shall be checked by the Participant to ensure the completeness of the form and validity of the signature of the pledgor or pledgee before the requests on these forms are executed.
   
12.10. Hypothecation
12.10.1.
The Participant of the hypothecator shall request creation of hypothecation on receipt of the hypothecation creation form as laid out in Annexure W from the hypothecator.
12.10.2.
The Participant of the hypothecatee shall request confirmation of creation of hypothecation on receipt of the hypothecation creation confirmation form as laid out in Annexure W from the hypothecatee.
12.10.3.
On receipt of the request and confirmation for creation of hypothecation from the hypothecator and hypothecatee respectively through their Participants, the Depository may create the hypothecation.
12.10.4.
The Participant of the hypothecator shall request closure of hypothecation on receipt of the hypothecation closure form as laid out in Annexure W from the hypothecator.
12.10.5.
The Participant of the hypothecatee shall request confirmation of closure of hypothecation on receipt of the hypothecation closure confirmation form as laid out in Annexure W from the hypothecatee.
12.10.6.
On receipt of the request and confirmation for closure of hypothecation from the hypothecator and hypothecatee respectively through their Participants, the Depository may close the hypothecation.
12.10.7.
The Participant of the hypothecatee shall request invocation of hypothecation on receipt of the hypothecation invocation form as laid out in Annexure W from the hypothecatee.
12.10.8.
The Participant of the hypothecator shall request confirmation of invocation of hypothecation on receipt of the hypothecation invocation confirmation form as laid out in Annexure W from the hypothecator.
12.10.9.
On receipt of the request and confirmation for invocation of hypothecation from the hypthecatee and hypothecator respectively through their Participants, the Depository may amend its records.
12.10.10.
The aforementioned forms submitted by the hypothecator and hypothecatee shall be checked by the Participant to ensure the completeness of the form and validity of the signature of the hypothecator or hypothecatee before the requests on these forms are executed.
   
12.11. Intermediary Account
12.11.1.
An Intermediary may deal in the Depository system as an Intermediary only through a special account it has opened with a Participant.
12.11.2.
An Intermediary Account may be opened with the Participant only after the Intermediary has obtained registration from the Securities & Exchange Board of India and with the prior approval of the Depository.
12.11.3.
No Intermediary shall move securities from its Intermediary Account to any other account except as per the procedure described hereinafter.
12.11.4.
In case the Intermediary is itself a Participant, then the Intermediary may not submit the form specified under Rule 12.12 to Rule 12.17. However, it may keep such records relating to securities lending as it may deem appropriate.
   
12.12. Deposit of Securities by the lender with the Intermediary
12.12.1.
The Participant of the lender shall execute the instructions for deposit of securities by the lender with the Intermediary on receipt of securities lending form for lender/borrower, as laid out in Annexure X from the lender.
12.12.2.
On receipt of intimation for deposit of securities from the Participant of the lender, the Depository may block the securities in the lender's account in favour of the Intermediary and inform the Participant of the Intermediary.
12.12.3.
After receiving intimation from the Depository for the blocking of securities, the Participant of the Intermediary shall inform the Intermediary accordingly.
12.12.4.
The Participant of the Intermediary shall execute the instructions for acceptance/rejection of deposit of securities on receipt of securities lending form for Intermediary as laid out in Annexure XX from the Intermediary.
12.12.5.
On receipt of intimation for acceptance of deposit of securities from the Participant of the Intermediary, the Depository may move the securities from the lender's account to the Intermediary's account and inform the Participant of the lender.
12.12.6.
On receipt of intimation for rejection of deposit of securities from the Participant of the Intermediary, the Depository may remove the blocking of securities created in the lender's account and inform the Participant of the lender.
12.12.7.
After receiving the intimation for acceptance/rejection of deposit of securities from the Depository, the Participant of the lender shall inform the lender accordingly.
12.12.8.
The aforementioned forms submitted by the lender and the Intermediary shall be checked by the Participant to ensure the completeness of the form and validity of the signature of the lender and the Intermediary before the requests on these forms are executed.
   
12.13. Lending of Securities by the Intermediary to the Borrower
12.13.1.
The Participant of the borrower shall execute the instructions for lending of securities by the Intermediary to the borrower on receipt of securities lending form for lender/borrower as laid down in Annexure X from the borrower.
12.13.2.
After receiving intimation from the Depository for lending of securities, the Participant of the Intermediary shall inform the Intermediary accordingly.
12.13.3.
The Participant of the Intermediary shall execute the instructions for acceptance/rejection of lending of securities on receipt of securities lending form for Intermediary as laid down in Annexure XX from the Intermediary.
12.13.4.
On receipt of intimation for acceptance of lending of securities from the Participant of the Intermediary, the Depository may move the securities from the Intermediary's account to the borrower's account and shall inform the Participant of the borrower.
12.13.5.
After receiving the intimation for acceptance/rejection of lending of securities from the Depository, the Participant of the borrower shall inform the borrower accordingly.
12.13.6.
The aforementioned forms submitted by the Intermediary and the borrower shall be checked by the Participant to ensure the completeness of the form and validity of the signature of the Intermediary and the borrower before the requests on these forms are executed.
   
12.14. Repayment of Securities by the Borrower to the Intermediary
12.14.1.
The Participant of the borrower shall execute the instructions for repayment of securities by the borrower to the Intermediary on receipt of securities lending form for lender/borrower as laid down in Annexure X from the borrower.
12.14.2.
On receipt of intimation for repayment of securities from the Participant of the borrower, the Depository may block the securities in the account of the borrower in favour of the Intermediary and inform the Participant of the Intermediary.
12.14.3.
After receiving intimation from the Depository for blocking the securities, the Participant of the Intermediary shall inform the Intermediary accordingly.
12.14.4.
The Participant of the Intermediary shall execute the instructions for acceptance/rejection of repayment of securities on receipt of securities lending form for Intermediary as laid down in Annexure XX from the Intermediary.
12.14.5.
On receipt of intimation for acceptance of repayment of securities from the Participant of the Intermediary, the Depository may move the securities from the borrower's account to the Intermediary's account and inform the Participant of the Intermediary.
12.14.6.
On receipt of intimation for rejection of repayment of securities from the Participant of the Intermediary, the Depository may remove the blocking of securities created in the borrower's account and inform the Participant of the borrower.
12.14.7.
After receiving the intimation for acceptance/rejection of repayment of securities from the Depository, the Participant of the Intermediary shall inform the Intermediary accordingly.
12.14.8.
If the borrower repays the securities to the Intermediary outside the securities lending module of the DPM system, then on receipt of information thereof from the Participants of the borrower and the Intermediary, the Depository may amend its records accordingly.
12.14.9.
The aforementioned forms submitted by the Intermediary and the borrower shall be checked by the Participant to ensure the completeness of the form and validity of the signature of the Intermediary and the borrower before the requests on these forms are executed.
   
12.15. Recall of Securities by the Intermediary from the Borrower
12.15.1.
The Participant of the Intermediary shall execute the instructions for recall of securities by the Intermediary from the borrower on receipt of securities lending form for Intermediary as laid down in Annexure XX from the Intermediary.
12.15.2.
After receiving intimation from the Depository for the recall of securities, the Participant of the borrower shall inform the borrower accordingly.
12.15.3.
The Participant of the borrower shall execute the instructions for acceptance/rejection of recall of securities on receipt of securities lending form for lender/borrower as laid down in Annexure X from the borrower.
12.15.4.
On receipt of intimation for acceptance of recall of securities from the Participant of the borrower, the Depository may move the securities from the borrower's account to the Intermediary's account and inform the Participant of the Intermediary.
12.15.5.
After receiving the intimation for acceptance/rejection of recall of securities from the Depository, the Participant of the Intermediary shall inform the Intermediary accordingly.
12.15.6.
If the Intermediary recalls the securities from the borrower outside the securities lending module of the DPM system, then on receipt of information thereof from the Participants of the borrower and the Intermediary, the Depository may amend its records accordingly.
12.15.7.
The aforementioned forms submitted by the Intermediary and the borrower shall be checked by the Participant to ensure the completeness of the form and validity of the signature of the Intermediary and the borrower before the requests on these forms are executed.
   
12.16. Repayment of Securities by the intermediary to the Lender
12.16.1.
The Participant of the Intermediary shall execute the instructions for repayment of securities by the Intermediary to the lender on receipt of securities lending form for Intermediary as laid down in Annexure XX from the Intermediary.
12.16.2.
On receipt of intimation for repayment of securities from the Participant of the Intermediary, the Depository may block the securities in the Intemediary's account in favour of the lender and inform the Participant of the lender.
12.16.3.
After receiving intimation from the Depository for the blocking of securities, the Participant of the lender shall inform the lender accordingly.
12.16.4.
The Participant of the lender shall execute the instructions for acceptance/rejection of repayment of securities on receipt of securities lending form for lender/borrower as laid down in Annexure X from the lender.
12.16.5.
On receipt of intimation for acceptance of repayment of securities from the Participant of the lender, the Depository may move the securities from the Intermediary's account to the lender's account and inform the Participant of the lender.
12.16.6.
On receipt of intimation for rejection of repayment of securities from the Participant of the lender, the Depository may remove the blocking of securities created in the Intermediary's account and inform the Participant of the Intermediary.
12.16.7.
After receiving the intimation for acceptance/rejection of repayment of securities from the Depository, the Participant of the Intermediary shall inform the Intermediary accordingly.
12.16.8.
If the Intermediary repays the securities to the lender outside the securities lending module of the DPM system, then on receipt of information thereof from the Participants of the lender and the Intermediary, the Depository may amend its records accordingly.
12.16.9.
The aforementioned forms submitted by the lender and the Intermediary shall be checked by the Participant to ensure the completeness of the form and validity of the signature of the lender and the Intermediary before the requests on these forms are executed.
   
12.17. Recall of Securities by the Lender from the Intermediary
12.17.1.
The Participant of the lender shall execute the instructions for recall of securities by the lender from the Intermediary on receipt of securities lending form for lender/borrower as laid down in Annexure X from the lender.
12.17.2.
After receiving intimation from the Depository for recall of securities, the Participant of the Intermediary shall inform the Intermediary accordingly.
12.17.3.
Participant of the Intermediary shall execute the instructions for acceptance/rejection of recall of securities on receipt of securities lending form for Intermediary as laid down in Annexure XX from the Intermediary.
12.17.4.
On receipt of intimation for acceptance of recall of securities from the Participant of the Intermediary, the Depository may move the securities from the Intermediary's account to the lender's account and inform the Participant of the lender.
12.17.5.
After receiving the intimation for acceptance/rejection of recall of securities from the Depository, the Participant of the lender shall inform the lender accordingly.
12.17.6.
If the lender recalls the securities from the Intermediary outside the securities lending module of the DPM system, then on receipt of information thereof from the Participants of the lender and the Intermediary, the Depository may amend its records accordingly.
12.17.7.
The aforementioned forms submitted by the lender and the Intermediary shall be checked by the Participant to ensure the completeness of the form and validity of the signature of the lender and the Intermediary before the requests on these forms are executed.
   
12.18. Transaction in Government Securities
12.18.1.
The Participant shall effect a debit or credit to the accounts of its Clients only on receipt of proper authorisation from the Clients in the forms laid out in Annexures L and M. Alternatively, a Client may give standing instructions to its Participant to credit its account.
12.18.2.
In case of purchase of Government Securities by a Client from seller holding securities in an SGL account with other eligible entity, the Client shall submit, to the Participant, purchase instruction in the format given in Annexure UE. The Client shall also make necessary funds available to the Depository for the purchase of these securities.
12.18.3.
In case of sale of Government Securities by a Client to a buyer who maintains an SGL account with other eligible entity, the Client shall submit to the Participant, Sale Instruction in the format given in Annexure UD. The Depository shall make necessary funds available to the Client against sale of these securities.
   
12.19. Corporate benefits with respect to Government Securities
12.19.1.
The Depository shall inform all the Participants about the shut period (book closure) for Government Securities as and when scheduled by RBI.
12.19.2.
All Participants must ensure that :

  • changes such as bank details, change of address, etc. in the beneficial owner accounts are updated well in advance of the interest payment and/or redemption payment due date;
  • they remain connected till the EOD of the interest payment due date and/or redemption payment due date.
12.19.3.
The Depository shall distribute the interest to the Clients who have balances in Government Securities, for which interest payment is due, at the EOD of the interest payment due date, after the same has been made available to the Depository by RBI.
12.19.4.
The Depository shall pay the redemption amount to the Clients who have balances in Government Securities, due for redemption, at the EOD of the redemption due date, after the redemption amount have been made available to the Depository by RBI.
12.19.5.
The amount mentioned at 12.19.3 and 12.19.4 shall be paid by the Depository to the Clients directly or to the bank account of the Client as per the details given in the Account opening form.
   
12.20 Inter Depository Transfer of Securities
12.20.1
Instruction in respect of inter-depository transfers shall be executed by the Participants on receipt of a duly filled in inter-depository transfer instruction forms from Clients and Clearing Members for delivery and receipt of securities. The specimen of these forms have been laid out in Annexure N and Annexure NA respectively. However, for receiving credits to its account, a Client and Clearing Member may give standing instructions to its Participant.
12.20.2
The Participant should check for the completeness of the forms and validity of the signature of the Client and Clearing Member before the instructions are executed.
12.20.3
On receipt of the intimation from both the depositories about the inter-depository transfer instruction details, the Issuer or its Registrar and Transfer Agent shall verify the request, and if found in order, accept the same else reject the same in the DPM(SHR).