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NSDL launched STeADY (Securities Trading-information easy Access and DeliverY), the Straight Through Processing (STP) facility, in November 2002. At present, eight Custodians, 17 Mutual Funds and 82 Brokers have subscribed and are availing of the services of STeADY. Since its launch, STeADY has witnessed a gradual growth and with the introduction of market-wide use of STP, the volumes are expected to grow further.

NSDL has always been following the policy of sharing the benefit of growth in volumes with its customers by reducing the user charges. In line with this, NSDL is pleased to reduce the usage charge from the current level of Rs. 10/- per contract note/instruction to Rs. 5/- per contract note/instruction i.e. a reduction of 50% w.e.f. July 1, 2004. The other charges remain unchanged.

NSDL launched IDeAS (Internet-based Demat Account Statement) w.e.f. January 1, 2004. IDeAS is a facility available on SPEED-e website for viewing balances and transactions in demat accounts. At present, subscribers to IDeAS (Beneficial owners) can view the latest balances and transaction that have taken place in the last five days in their depository accounts.

Based on the feedback received from the users, DPs requested NSDL to provide transaction statements on a monthly basis. Accordingly, w.e.f. July 1, 2004, NSDL has started providing the facility to download the transaction statement on a monthly basis, to the subscribers of IDeAS, on a pilot basis. The transaction statements of a particular month will be available latest by 7th of the following month and will be available for download till the details of the following month are uploaded to IDeAS. If the subscription to IDeAS is during the month, transaction statement for that month will be for the period starting from the date of subscription till the end of that month.

This was intimated to DPs vide Circular No. NSDL/PI/2004/1157 dated June 29, 2004

J M Morgan Stanley Retail Services Private Limited has been made operational as a Depository Participant on June 25, 2004. It will conduct its depository operations from Mumbai. The DP Id allotted is IN302927.

This takes the total number of operational DPs to 217 and the total number of operational DPM set-ups to 287.

The following DP has subscribed to the SPEED-e facility of NSDL:

• InvestMentor Securities Limited

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

This takes the total number of DPs who have subscribed to SPEED-e to 31.

The following DPs have subscribed to the IDeAS facility of NSDL in the month of June 2004:

• Suvridhi Capital Markets Ltd.
• G Raj & Co. (Consultants) Ltd.
• Nutan Nagrik Sahakari Bank Ltd.

This takes the total number of DPs who have subscribed to IDeAS to 27. In addition to these DPs, 31 DPs who have subscribed to SPEED-e can also avail of IDeAS.

NSDL, on behalf of Mukesh Babu Securities Limited (MBSL), issued a public notice in newspapers on May 26, 2004 informing public about closure of depository operations of MBSL as a DP of NSDL and advising clients of MBSL to initiate steps to transfer their securities to their account opened with any other DP.