NSDL News
Introduction of new facilities for SPEED-e Users
Based on the feedback received from SPEED-e users , NSDL has introduced the following new features in SPEED-e facility :
- Account Freezing : Clients using a smart card can freeze or unfreeze their accounts by giving instructions through SPEED-e. Its Depository Participant (DP) cannot override such freeze / unfreeze instruction through its DPM System.
- Multiple Authorisation : Smart card users can authorise SPEED-e instructions through multiple levels of authorisation, upto a maximum of three authorised signatories. Once an account is enabled for authorisation by multiple users, debit instruction for such an account cannot be executed through SPEED-e, unless all the authorised signatories / joint holders authorise the instruction using the smart card.
Reduction in SPEED-e Charges
NSDL has reduced the quarterly charges payable by a DP per client ID operated with the smart card from Rs 500/- per quarter to Rs 125/- per quarter. The reduced charges are applicable from January 1, 2002.
SPEED-e facility is currently being offered by seven DPs viz. Abhipra Capital Limited , Alankit Assignments Limited. , Geojit Securities Limited , Gogia Cap. Com Limited., Indus Ind Bank Limited, Karvy Consultants Limited and Kotak Securities.
NSDL releases 'Computer Based Training" (CBT) module on a CD-ROM
NSDL has developed Computer Based Training (CBT) module on a CD-ROM. The CBT is a self-learning tool broadly covering the depository operations and compliance areas. The CBT also contains glossary of important terms, various forms used in the NSDL depository system, flowcharts of critical processes and a sample question paper. The CBT is designed to supplement the efforts of the candidates appearing for the NCFM - Depository Operations Module examination.
Copies of CBT have already been sent to all the DPs. Additional copies of CDs can be obtained from NSDL offices at a cost of Rs. 200/- per CD.
RBI announces Non Competitive Bidding facility in G-Secs for Retail Investors
The Reserve Bank of India has, vide its Press Release dated December 8 , 2001 , announced introduction of non competitive bidding facility in Government Securities for retail investors. This facility will be open to those investors who do not maintain current account or subsidiary general ledger (SGL) account with the Reserve Bank; and who make a single bid for an amount not more than Rs. One crore of face value per auction. The facility to put in non-competitive bids will be available to retail investors through banks and primary dealers. The minimum amount of bidding will be Rs. 10,000 ( face value) and thereafter in multiples of Rs. 10,000. The allocation on a non - competitive basis will be done at the weighted average rate that will emerge in the auction on the basis of competitive bidding.
With the introduction of this facility, retail investors who have already opened a NSDL demat account may use the same for holding G-Secs allotted to them under the "Non Competitive Bidding" facility.
