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NSDL has launched an Internet based facility called IDeAS (Internet-based Demat Account Statement) with effect from January 1, 2004. This facility enables accountholders to view balances and transactions in their demat accounts on the Internet. The information is updated on a continuous basis with a delay of upto thirty minutes. NSDL had earlier launched a facility called SPEED-e, which enabled accountholders to deliver instruction slips through the Internet.

Using IDeAS, accountholders can view the latest balances and transactions that have taken place in their demat accounts in the last five days. This facility can be availed by those accountholders whose Depository Participants (DPs) are registered with NSDL for IDeAS. It can also be availed by users of SPEED-e and Clearing Members (CMs) who have subscribed to SPEED. CMs will be able to view and download the latest balances and transactions in their pool accounts in respect of settlements for the current pay-in date, previous four and next four pay-in days.

NSDL keeping in line with its policy of passing on the benefit of increasing volumes to the market has reduced its charge to DPs for debit instruction from Rs.10/- to Rs.8/-, with effect from January 1, 2004. The corporate action fee payable by issuers has also been reduced from Rs.10/- per record to Rs.8/- per record.

SEBI vide its letter no. MRD/VSS/SU/24221/2003 dated December 22, 2003 has advised NSDL to intimate its DPs to pass on the benefits of the above reduction in charges to the beneficial owners.

Accordingly, NSDL has advised its DPs to ensure compliance of the above vide NSDL Circular No. NSDL/PI/2003/2111 dated December 29, 2003.

The following DPs have subscribed to the SPEED-e facility of NSDL.

• East India Securities Limited
• Khandwala Integrated Financial Services Private Limited

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

Zen Securities Limited has been made operational as a DP on December 31, 2003. It will conduct its depository operations from Hyderabad. The DP Id allotted is IN302863.

Service Tax at the applicable rate (@ 8% presently) would be charged to Issuers or their R & T Agents on the fees payable to NSDL for corporate action, change in electronic connectivity, benpos and such other services.

This has been communicated to all R & T Agents vide NSDL Circular No. NSDL/JS/039/2003 dated December 20, 2003.

National Commodity & Derivatives Exchange Limited (NCDEX) has appointed National Securities Clearing Corporation Ltd. (NSCCL) as clearing and settlement agent for trades done on NCDEX. The CC Id allotted to NCDEX is IN001109.