Functions of DP-Account operations

Functions of DP-Account operations (Part 1)

• Basic Services Demat Account (BSDA): A type of demat account that offers limited services to encourage holding of demat accounts and reduce maintenance costs for retail individual investors.
• Eligibility Conditions for BSDA:
  • The account should be in the individual category with only one demat account where the person is the sole or first holder.
  • The individual should have only one BSDA across all depositories.
  • The value of securities held should not exceed Rs. 10 lakhs.
  • The account should be registered for the SMART facility.
  • The first holder's PAN should be verified.
• Annual Maintenance Charges for BSDA:
  • No charges for holdings up to Rs. 4,00,000.
  • Maximum Rs. 100 for holdings between Rs. 4,00,001 and Rs. 10,00,000.
  • Not applicable for BSDA if holdings exceed Rs. 10,00,000.
• Services offered to BSDA Holders:
  • Transaction statements sent quarterly.
  • Annual physical statement of holdings.
  • Electronic statements provided free of cost.
  • Physical statements provided at a fee not exceeding Rs. 25 per statement.
  • SMS alert facility for debit transactions.
  • At least two Delivery Instruction Slips (DIS) issued at the time of account opening.
• Operations of a Joint Account:
  • A depository account can be opened in the names of more than one person.
  • All joint holders must sign the application form and acknowledge receipt of the Rights and Obligations document.
  • Communications about the joint depository account are provided only to the first holder.
  • In the event of the death of a joint holder, the balance can be transmitted to a new account opened by the surviving holders.
• Internet-Based Depository Operations:
  • IDeAS (Internet-Based Demat Account Statement): A facility for viewing balances and transactions in the demat account updated online with a delay of maximum 30 minutes.

Functions of DP-Account operations (Part 2)

• Introduction: Transactions in demat accounts are updated on an online but not real-time basis. This facility is available to all clients, including Clearing Members (CMs) who have opened an account with any of the Participants under the NSDL system.
• IDeAS Facility: IDeAS enables Clients (Beneficial owners) to view the latest balances and transactions that have taken place in the last five days, in their depository accounts. Key features include:
  • Viewing transactions for a period of up to 30 days
  • Displaying values for mutual fund units, non-convertible debentures, bonds, ETFs, and unlisted equity shares
  • Displaying price and value for Sovereign Gold Bonds
• SPEED-e: SPEED-e is a facility launched by NSDL that enables demat account holders to submit delivery instructions directly on the internet. Key features include:
  • Password User: Can debit their demat accounts only in favor of specified Pre-Notified Clearing Member accounts
  • Smart Card / e-Token User: Can submit instructions in favor of any number of accounts and freeze or unfreeze their accounts
  • Holiday Master Feature: Allows Participants to mark holidays on SPEED-e
  • Inter-Depository Delivery Instructions: Enables investors/clearing members to submit IDD instructions
  • Reset Password and Update Email ID: Allows password users to reset their passwords and update their email IDs
  • Redemption of Mutual Fund Units: Enables clients to redeem mutual fund units through SPEED-e
• SPICE: SPICE is a facility that enables Clearing Members to submit auto pay-in instructions to DPs on behalf of their clients, eliminating the need for paper-based delivery instructions.
• NSDL/CDSL Mobile App: A mobile app that allows investors to view balances in their demat account on their mobile devices.
• SIMPLE: A facility that enables password-based users of SPEED-e to submit Client to Clearing Member Pool Account transfer instructions on the SPEED-e website through their mobile phones.
• SMS Alert Facility: Provides SMS alerts to demat account holders for various transactions, including debit transfers, credits, and failed instructions.
• CDSL Internet-Based Depository Operations: CDSL offers two internet-based facilities: easi and easiest. easi allows beneficial owners to view their demat account holdings and download transaction statements, while easiest enables BOs/CMs to submit debit/credit transaction instructions and freeze/unfreeze accounts.