National Securities Depository Limited
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Statistics

August 31, 2019

arraw Investor Accounts - 1,89,16,477
arraw DP Service Centres - 31,205
arraw Demat Custody Value - 177.44
(₹ Lakh Crore)(US$ 2,483 billion)
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NSDL News

Japan Securities Depository Center, Inc. (JASDEC) of Tokyo has signed a Memorandum of Understanding (MOU) with NSDL, designed to build a cooperative relationship.

Under the terms of the MOU, JASDEC and NSDL will establish a mechanism, whereby board members, senior management and staff of both sides could meet to explore improvement opportunities and to exchange information on business operating models and securities market developments.

The MOU also noted that “the parties anticipate developing a closer working relationship in the future and wish to maintain channels of communication for exchange of information and to promote visits for reasons of friendship and other business purposes.”

“I hope that the signing of MOU between NSDL and JASDEC will bring enormous benefit to the two central securities depositories.” said Mr. Yoshinobu Takeuchi, President & CEO of JASDEC. He expressed his hope that NSDL and JASDEC will be able to further strengthen their relationship and make contributions to the development of the securities market in the two countries.

Mr. Gagan Rai, MD & CEO of NSDL, commented: “The depth and breadth of JASDEC's experience in both domestic and cross-border transactions is of interest to NSDL and our clients. We place great value in developing a cooperative relationship to further the growth and prosperity of our respective markets.”

Japan Securities Depository Center, Inc. (JASDEC) provides the securities depository and book-entry transfer services for stocks, convertible bonds, REITs and other securities, and the book-entry transfer services for commercial papers, corporate bonds, investment trusts, and ETFs. As of March 2008, the number of participants for stock certificate settlement stood at 286 and the number of shares held amounted to 320 billion. In addition, JASDEC operates a DVP settlement service for non-exchange transactions through its subsidiary.

For more information on JASDEC, visit www.jasdec.com.

Following entities have been made operational as DPs in NSDL during May 2008

DP Name Date of Commencing Operations City DP Id
Astha Credit & Securities Private Limited May 5, 2008 Bhopal IN303420
JP Morgan Chase Bank, N.A. May 22, 2008 Mumbai IN303438
Parag Parikh Financial Advisory Services Limited May 29, 2008 Mumbai IN303446

The above additions take the total number of operational DPs to 256 and the total number of DPM set-ups to 335.

NSDL conducts NCFM (NSE's Certification in Financial Markets - NSDL-Depository Operations Module) oriented training programmes for DPs to facilitate them for the NCFM examination. In May 2008, such programmes were conducted in Indore on May 10 & 12, 2008, which were attended by 42 persons.

NSDL has vide Circular No. NSDL/POLICY/2007/0077 dated December 19, 2007 prescribed the procedure to be followed by DPs in cases where Minor Clients have attained Majority (i.e. 21 years of age in case of Minor whose Guardian is court-appointed or 18 years where Minor's account is represented by a natural guardian).

DPs have been requesting NSDL to permit the accountholder to continue with the same account rather than opening a new account upon attaining majority. In view of the foregoing, it was decided that the accountholder (minor who has attained majority) need not open a new account upon attaining majority. DPs have also been once again reminded that the account opened in the name of a minor should not have joint holder(s). Further details in this regard are posted on NSDL website www.nsdl.co.in.

This has been informed to DPs vide Circular No. NSDL/POLICY/2008/0034 dated May 21, 2008.

DPs have been requesting NSDL to permit providing of transaction statements to their Clients by email or at the website, on terms and conditions to be signed by the Clients in this regard. In view of the above, DPs may provide transaction statements by email and/or on website by entering into a legally enforceable arrangement with the Client subject to the certain conditions. Detailed conditions in this regard are posted on NSDL website www.nsdl.co.in.

This has been informed to DPs vide Circular No. NSDL/POLICY/2008/0036 dated May 21, 2008.

NSDL has vide Circular no. NSDL/POLICY/2007/0074 dated December 1, 2007 provided clarification regarding acceptance of bank statement as a valid POA. DPs have been requesting NSDL to permit acceptance of copy of bank statement as a valid POA alongwith copy of cheque leaf in lieu of original bank statement and original cheque leaf.

DPs have been informed that they may accept the copy of bank statement alongwith copy of cheque as valid POA provided the following is ensured

  • The authorised official of the DP should verify the photocopies of the bank statement and cheque submitted with their corresponding originals and put his/her signature on them with the remarks "verified with original".
  • The DPs shall ensure that the copy of bank statement clearly displays the logo & name of the bank as also displays the name, address and bank transactions/balance of the Client for the latest quarter ending. The latest quarter should be considered with respect to the date of receipt of the account opening form.
  • DPs shall ensure that the bank details including the account number mentioned on the cheque matches with that mentioned in the bank statement submitted as POA.

This has been informed to DPs vide Circular No. NSDL/POLICY/2008/0037 dated May 27, 2008.