NSDL News
Investor Depository Meet (IDM) conducted by NSDL at Anand on August 31, 2012
Inorder to extend the reach of IPOs for the benefit of retail investors so as to achieve wider financial inclusion, encourage holding of demat accounts & to reduce the cost of maintaining securities in demat accounts for retail individual investors, SEBI has advised that all Depository Participants (DPs) shall make available a "Basic Services Demat Account" (BSDA) with limited services as per terms specified herein. Further details about this circular are posted on NSDL website www.nsdl.co.in.
(Ref: Circular No. NSDL/POLICY/2012/0086 dated August 28, 2012)
Participants may follow the procedure in case their Clients who are unable to sign the instructions for operating the depository account for various reasons such as paralysis, parkinsonism, hemiplegia, old age, etc. as mentioned below:
- Ascertain that the Client himself/ herself has given the request and that the Client retains the capacity to contract.
- Advise the Client to provide a written request stating that the Client is unable to sign specifying the reason therein. The Client need to affix his/ her thumb impression on the written request. A Magistrate, a Notary Public or a Special Executive Magistrate must attest Thumb impression of the Client.
- Advise the Client to provide a medical certificate issued by an appropriately qualified doctor which clearly states that the Client is unable to sign, the reason for the same and period since the Client is unable to sign.
Further details about this circular are posted on NSDL website www.nsdl.co.in.
(Ref: Circular No. NSDL/POLICY/2012/0087 dated September 4, 2012)
Participants were earlier required to display the types of services provided by them at each Service Centre. It is hereby informed that Participants providing all the depository services from the Service Centre need not display the type of depository services provided to Clients.
(Ref: Circular Nos. NSDL/PI/2000/1531 dated August 24, 2000 & NSDL/POLICY/2012/0087 dated September 4, 2012)
SEBI vide Circular No. CIR/MIRSD/11/2012 dated September 5, 2012 has received representations regarding operational issues in the implementation in case of foreign investors viz. Foreign Institutional Investors, Sub Accounts and Qualified Foreign Investors. SEBI in consultation with the Stock Exchanges, Depositories and Intermediaries has issued certain clarifications with respect to these investors. Further details about this circular are posted on NSDL website www.nsdl.co.in.
(Ref: Circular No. NSDL/POLICY/2012/0091 dated September 6, 2012)
NSDL has made arrangements with NISM to facilitate staff of Participants to get certified for NISM-Series VI Depository Operations Certification Examination (DOCE) as per SEBI requirements. A training programme is conducted by NSDL for Participant's staff followed by NISM-Series VI-DOCE online test conducted by NISM. In August 2012, NSDL conducted four such training programmes at Mumbai which were attended by 143 persons nominated by various Participants.