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Punjab National Bank (PNB) has truncated the bank account number from present 16 digits to 15 digits. Similarly, name of UTI Bank Ltd. has been changed to Axis Bank Ltd. NSDL has advised its Participants to carry out necessary charges and communicate to concerned Clients about the changes carried-out in their bank details alongwith the transaction statement.

For new demat accounts opened or change in bank details requested by Clients, Participants are advised to capture the correct 15 digit bank account numbers of PNB or bank name as ‘Axis Bank Limited’ as the case may be. This has been informed to Participants vide Circular No. NSDL/POLICY/2008/0070 dated October 16, 2008.

NSDL Business Rule 12.6.4.1. pertaining to Transmission of Securities held by Karta of Hindu Undivided Family (HUF) in the Depository has been modified. Extracts of the aforementioned rule are as under:

“12.6.4.1 Upon death of the Karta of a Hindu Undivided Family (HUF), the surviving member(s) of the HUF may appoint the eldest surviving member of the HUF as the new Karta of the HUF.”

Entire text of the aforementioned Business Rule is available on NSDL website www.nsdl.co.in and the same has been informed to Participants vide Circular No.NSDL/POLICY/2008/0072 dated October 17, 2008.

It has been decided that ‘web-camera’ may be used for ‘in-person’ verification for opening of BO accounts at the branch/franchisee offices of the Participant subject to compliance with other SEBI guidelines/circulars relating to opening of BO accounts including verification of relevant documents. This has been informed to Participants vide Circular No. NSDL/POLICY/2008/0076 dated October 27, 2008.

NSDL conducts NCFM (NSE’s Certification in Financial Markets - NSDL-Depository Operations Module) oriented training programmes for Participants to facilitate them to appear for the NCFM examination. In October 2008, such programmes were conducted in Pune, Bhopal, Ahmedabad, Chennai and Hyderabad which were attended by 129 persons.