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Visit by Financial Sector Assessment Team (FSAP) team to NSDL in September 2011

Proof for bank details not necessary where access to bank records is available with Participants

Procedure for capturing bank details in the depository account has been simplified and now clients need not submit proof of bank details (such as bank account number, MICR code, etc.) to the Participants, provided the Participant has direct access to the bank records for verification of bank details provided by the clients.

(Ref: Circular No. NSDL/POLICY/2011/0062 dated August 4, 2011, which is posted on NSDL website www.nsdl.co.in.)

SEBI's Circular on Investment by Foreign Investors in Mutual Fund Schemes.

Foreign investors (termed as Qualified Foreign Investors/ QFIs) who meet KYC requirement may now invest in equity and debt schemes of Mutual Funds (MF). This has been informed vide SEBI's Circular No. CIR/IMD/DF/14/2011 dated August 9, 2011. The following two routes can be used for this investment

Direct Route

Holding MF units in demat account through a SEBI registered depository participant (DP).

Indirect Route

Holding MF units via Unit Confirmation Receipt (UCR).

(Ref: Circular No. NSDL/POLICY/2011/0064 dated August 10, 2011, which is posted on NSDL website www.nsdl.co.in.)

SEBI Circular on Redressal of investor grievances against Depository Participants (DPs) in SEBI Complaints Redress System (SCORES)

SEBI has commenced processing of investor grievances in a centralised web-based complaints redressal system called 'SCORES' which was informed vide SEBI's Circular No. CIR/MIRSD/20/2011 dated September 12, 2011. The salient features of this system are

• Centralized database of all complaints;
• Online movement of complaints to the concerned entities;
• Online upload of Action Taken Reports (ATRs) by the concerned entities; and
• Online tracking of status of complaints by investors.

(Ref: Circular No. NSDL/POLICY/2011/0072 dated September 13, 2011)

Acceptance of request for change of address of body-corporate accounts through an authorised representative

As per present procedure, for change of address by a Body Corporate, atleast one of the authorised signatories of the corporate entity has to visit the office of the Participant in person to submit its application. To simplify the process for change of address, the procedure has been revised wherein, if the authorised signatories of a body-corporate account expresses their inability to personally visit the Participant's office, he/she can submit the application for change of address through an authorised representative.

(Ref: Circular No. NSDL/POLICY/2011/0073 dated September 15, 2011)

SEBI Circular on revised procedure for seeking prior approval for change in control through single window

With a view to expedite the process of granting prior approval for change in control for certain intermediaries, viz., Stock Brokers and Sub-brokers, Merchant Bankers, Debenture Trustees, Registrar to an Issue and Share Transfer Agents, Underwriters, Depository Participants, Bankers to an Issue and Credit Rating Agencies, SEBI vide Circular No. CIR/MIRSD/14/2011 dated August 2, 2011 has decided to adopt a 'single window clearance at SEBI', for the above intermediaries in case of their having multiple registrations with SEBI.

(Ref: Circular No. NSDL/POLICY/2011/0063 dated August 4, 2011)

NCDO training / certification programmes for Participants

NSDL conducts training and certification programmes for Participants to increase the availability of trained personnel for depository operations. In August 2011, such programmes were conducted in Chennai, Guwahati, Hyderabad, Indore, Jaipur, Kolkata, Mumbai, Nagpur, Nashik, New Delhi, Pune, Raipur and Vijaywada. In all, 343 persons attended the training programmes conducted at these locations.

One Participant became operational in NSDL during August 2011

In August 2011, following Participant became operational in NSDL.

The above additions take the total number of operational Participants to 297 and the total number of DPM set-ups to 371.

Closure of Manubhai Mangaldas Securities Private Limited Participant Operations

NSDL has informed all its Participants that Manubhai Mangaldas Securities Private Limited (DP ID IN302742), a Participant of NSDL has informed NSDL about its decision to discontinue depository operations.

(Ref:Circular No. NSDL/PI/2011/1758 dated September 7, 2011)

Subscription to SPEED-e

• The Calcutta Stock Exchange Ltd. (DP ID IN001027)
• Smart Equity Brokers Private Limited (DP ID IN303948)

Clients of the above mentioned Participants can now avail of the facility of submitting various instructions through SPEED-e facility.

This takes the total number of Participants who have subscribed to SPEED-e to 108.