NSDL News
NSDL launches WAN TO WAN facility.
Based on the suggestions received from various Participants, NSDL has developed WAN TO WAN facility. WAN TO WAN is a browser based application, which will enable the branches of a Participant to directly interact with DPM server through its own Wide Area Network(WAN) and provide upto date information and depository services to its clients. The facility is proposed to be provided in three phases. The first phase has been completed and is ready for use. Followings are the main features of this phase:
- Screens for viewing details of various instructions viz., Demat, Account Transfer, Delivery Out, Inter Settlement Transfer and Inter Depository Transfer.
- Screens for viewing Statement of Holding of Clients (CM and Non -CM).
- Screens for viewing Statement of Transaction of Clients( CM and Non- CM).
Requirements and procedure for availing this facility have been circulated vide NSDL Circular No. : NSDL/PI/2001/1849 dated December 18, 2001. For any further details about the facility , Participants may contact Mr. Jignesh Gandhi or Mr. Milind Mungale on Tel. No. (022) 460 8037 / 497 6347.
Five more participants join SPEED-e facility
Alankit Assignments Limited, Kotak Securities, Abhipra Capital Ltd, IndusInd Bank Limited and Karvy Consultants Limited have joined the SPEED-e facility for enabling their clients to deliver instructions on the Internet through NSDL website SPEED-e (https://eservices.nsdl.com). All clients of these participants can now avail the facility by registering themselves for the facility.
SPEED-e facility is now being offered by seven depository participants.
New facilities added on NSDL website.
Following new facilities have been added on the NSDL website www.nsdl.co.in :
- Detailed list of all debt instuments and Commercial Papers : Details of all debt instruments and Commercial papers have been made available on the home page of the NSDL web-site. These details include Issuer name , ISIN number , security description , issue price , face value , issue date , redemption dates, coupon rate (if applicable), interest payment dates ( if applicable) , put/call option (if applicable) and RTA details.
- Commercial Paper redemption schedule : The dates of redemption of commercial papers which have been admitted on the NSDL system are now available on the NSDL web-site.
- Change in names of companies: List of companies that have joined NSDL depository system and have changed their names is now made available on the home-page of the NSDL website.
SEBI : Compulsory Rolling Settlement for all scrips from December 31, 2001.
Compulsory Rolling Settlement on T+5 basis has been introduced for 414 scrips since July 02, 2001 on all exchanges. As already announced by SEBI on May 14, 2001, the remaining scrips were to be traded on T+5 rolling settlement w.e.f. January 02, 2002. However, SEBI announced vide its press release Ref. No. PR223/2001 dated December 20, 2001 that the date of the commencement of rolling settlement in these scrips be advanced to the beginning of the week i.e. Monday, December 31, 2001.
SEBI announces introduction of T+3 Rolling Settlement.
SEBI has vide its Press Release No. Ref. No. PR/221/2001 announced introduction of compulsory rolling settlement in all listed scrips on all exchanges on T+3 basis from April 01, 2002.
Use of ECS facility for dividend payment
NSDL has vide its Circular No. NSDL/JS/054/2001 dated December 5, 2001 informed all Issuers and R & T agents that as per SEBI advice vide Circular No. DCC/FITTCIR -3/2001 dated October 15, 2001, Companies should mandatorily use ECS facility for distribution of dividends and other cash benefits to the investors. However, where ECS facility is not available, companies may use warrants for distribution of dividends. SEBI has also advised that in cases where warrants are issued for distribution of dividends and other cash benefits to the investors , companies should mandatorily print the bank account details on the payment instruments as furnished by the depositories .
