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Since inception, NSDL has been following the policy of reducing its fees with the growth in volumes. At present, NSDL levies a custody fee of Re. 0.50 per ISIN position per month i.e. Rs.6 per annum. The number of ISIN positions in NSDL have been steadily on the rise which clearly signals the investors' enthusiasm towards the demat process. Investors have dematerialized their securities at a very fast pace in the last six months. Keeping in line with NSDL's policy of passing on the benefit of increased volumes to the market, NSDL has decided to reduce the custody fee to Rs. 4 per ISIN position per annum (Re.1 per ISIN position per quarter) as against Rs. 6 per ISIN position per annum. This reduction will take effect from April 1, 2004. The custody fee will be collected from the Depository Participants (DPs) on a quarterly basis. There is no other change in the fee structure.

The fee structure after the reduction in the custody fee is given below:

Securities and Exchange Board of India (SEBI) vide its circular no. SEBI/MRD/Cir-10/2004 dated February 10, 2004 has withdrawn transfer-cum-demat scheme.

In view of the above, NSDL vide its Circular No. NSDL/JS/003/2004 dated February 11, 2004 has advised all Issuers and their Registrar & Transfer Agents (RTA) that henceforth, they should not issue option letters to shareholders, as prescribed under the SEBI guidelines for dematerialisation of shares sent for transfer.

However, option letters already issued by the Issuers or RTAs prior to aforesaid SEBI circular can be submitted for dematerialisation and such dematerialisation requests will be processed as per the existing guidelines.

With effect from February 2, 2004, board number of NSDL office in Mumbai has been changed. The new board number is 2499 4200 (60 hunting lines). With this change, all intercom numbers will become virtually direct numbers, e.g., if you are aware of the extension number of the person you want to speak to, you can dial 2499 ABCD where ABCD is the extension number of NSDL official.

The following Depository Participants (DPs) have subscribed to the SPEED-e facility of NSDL.

• Eureka Stock and Share Broking Services Limited
• Sahara India Financial Corporation Limited

Clients of the abovementioned DPs can now avail of the facility of submitting various instructions through SPEED-e web-site.

Name of Geojit Securities Limited has been changed to Geojit Financial Services Limited. The Securities and Exchange Board of India has granted the certificate of registration as a DP to Geojit Financial Services Limited. The DP Ids of Geojit Financial Services Limited are IN300239, IN302726, IN301879, IN301637, IN301532 and IN301268.

NSDL vide its circular no. NSDL/PI/2004/0045 dated January 7, 2004 has prescribed the procedure for effecting change in signature by accountholders in their demat accounts.

The procedure for change of signature is as follows:

• The accountholder has to make a request in writing to its DP specifying the reason for change in signature.
• The new signature should be duly attested by accountholder's banker.
• The accountholder should visit its DP's office personally and produce valid proof of identity as well as the latest transaction statement of its account.
• In the presence of DP officials, the accountholder shall affix its new signature.
• An authorised official of the DP shall, under his signature, verify the identity proof with the proof and photograph that were furnished at the time of opening of account and thereafter, if found satisfactory, make necessary changes in its records.