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NSDL launches facility for delivery of shares using mobile phones
National Securities Depository Limited (NSDL), the first and largest depository in India promoted by institutions of national stature has launched a facility named SIMPLE (Submission of Instruction through Mobile Phone Login Easily), which will enable investors to submit delivery instructions to transfer securities to their broker account (Clearing Member Pool Account) for the purpose of pay-in through GPRS enabled mobile phones. For the purpose of availing this service, investors have to register for SPEED-e service (facility to submit delivery instructions through the internet) as a password user through NSDL Depository Participants. No separate registration is required for the users who are already availing SPEED-e facility. Registered Users will be required to access the SPEED-e website (https://eservices.nsdl.com) through their mobile phones and key-in the requisite user ID and password which is used for accessing the SPEED-e service.
Upon successful login to the SPEED-e website, the option to submit instructions, view ISINs and Settlement Calendar will be available on the user's mobile phone. The user will be able to use any of these options using the keypad of the mobile phone or by clicking / touching the screen of the mobile phone if it has an inbuilt 'Touch Screen' feature.
The usage of the mobile phone in India has increased substantially to 47 crore at the end of September 2009. Industry feedback is that this figure will cross 65 crore by 2012. With the introduction of the GPRS system, it has become very easy for the users to access information available on the internet through their mobile phones. Keeping in line with this trend, a number of customer friendly organizations have made interactive websites which may be accessed by users through their mobile phone at the press of a fingertip. Organisations have also been using the mobile phone as a means to interact with its present as well as potential customers on a one-to-one basis. NSDL in its endeavor to make the access and usage of demat accounts in NSDL more easy and transparent have already introduced the SMS alert facility for intimating investors about debits in their demat account and IPO credits and all these, were free of cost for the investors.
Over One Crore investors spread across the length and breadth of the country are maintaining their demat accounts with NSDL. These investors are being serviced from more than 10,000 locations across 1,000 cities / towns. The total value of securities in the dematerialized for held in the NSDL system exceeds Rs. 50,00,000 crore (US $1000 billion) which accounts for over 80% of the securities held and settled in dematerialized form in India.
It has always been the endeavor of NSDL to make use of contemporary technologies for providing value added services to investors enabling them to operate their depository accounts efficiently. This service will especially benefit the investors who are always on the move, says Mr. Gagan Rai, MD & CEO, NSDL.
Date : November 17, 2009
Place: Mumbai