Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul><li>Nirmala Sitharaman said that a <keyword id="105386" type="PERSON" weightage="20" keywordseo="demat-account" source="Orion">demat account</keyword> can be opened using an Aadhaar card. </li><li>Finance Minister Nirmala Sitharaman also said that banks will be able to raise an additional ₹5 lakh crore which will help recapitalise banks which are stressed with non-performing assets. </li><li>Further, there will be no tax surcharge on foreign and domestic investors.</li></ul>In a major relief to those who are looking to invest in the stock markets, Finance Minister Nirmala Sitharaman said that a demat account can be opened using an Aadhaar card. A demat account is necessary to invest in stock markets and it helps investors to hold and keep track of shares and securities in an electronic format. Currently, opening demat requires six different types of documents that makes it a cumbersome process. Now, Sitharaman has eased it. Here are the documents required to open a demat account which is required no more, according to HDFC bank: <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Documents required previously </td><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Documents required now </td></tr><tr><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Identity proof: Passport/ Driving licence/ Voter’s identity card/ Aadhaar card/ PAN card </td><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Aadhaar </td></tr><tr><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Address proof: Ration card/ Passport/ Voter’s identity card / Driving licence/ Bank passbook or bank statement/ Utility bills such as electricity bills or landline phone bills </td></tr><tr><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">Income proof: Salary slips/ income tax returns, </td></tr><tr><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;"> Bank account proof: Cancelled bank cheque </td></tr><tr><td style="border-left:solid #cccccc 0.75pt;border-right:solid #cccccc 0.75pt;border-bottom:solid #cccccc 0.75pt;border-top:solid #cccccc 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;">PAN card </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> Other announcements Finance Minister Nirmala Sitharaman also said that banks will be able to raise an additional ₹5 lakh crore which will help recapitalise banks which are stressed with non-performing assets. Further, there will be no tax surcharge on foreign and domestic investors.

Now you can open a demat account with just an Aadhaar card

New Delhi, Nov 15 () Capital markets regulator Sebi on Friday put in place a mechanism for stock exchanges and depositories to map the unique client code (UCC) with the demat account of a client.
 "Stock exchanges and depositories shall map the existing UCCs with the demat account of the clients latest by December 31, 2019," the regulator said in a circular.
 Sebi said "UCC allotted by the trading member (TM) to the client shall be mapped with the demat account of the client."
 "A client may trade through multiple TMs in which case each such UCC shall be mapped with one or more demat account(s)," it added.
 Sebi has asked the bourses to share the UCC data having PAN, segment, TM/CM (clearing member) code and the allotted UCC with the depositories.
 The UCC data is to be shared with the depositories on a one-time basis by November 30, 2019, and subsequently the incremental data in respect of new UCCs shall be shared on a daily basis, Sebi said.
 Besides, depositories need to map the UCC data in the demat account based on the PAN provided in the UCC database.
 Additionally, clients can make a request to their depository participants to delink or add UCC details which will then be processed by the depository through depository participants.
 Before any addition of UCC in the demat account, the depositories shall validate the same with the stock exchanges and client.
 The regulator has also asked exchanges and depositories to have a mechanism in place to address clients' complaints with regard to UCC mapping with their demat accounts.
 "Stock Exchanges and Depositories shall have a mechanism in place to ensure that inactive, non-operational UCCs are not misused and also a mechanism to ensure that inactive, non-operational UCCs are weeded out in the process of mapping clients' UCC with their demat account," Sebi said.
 The framework has been put in place pursuant to discussions with exchanges and depositories in order to facilitate ease in reconciliation, it added. SRS ABM
ABM

Sebi lays down mechanism to map unique client code with demat account

<ul><li>Shares of CDSL have gained 3% on July 9 as the depository’s <keyword id="240048" type="PERSON" weightage="20" keywordseo="demat-accounts">demat accounts</keyword> have reached 40 million. </li><li>Retail investors’ growing interest in investing in financial markets have benefited the depository. </li><li>Central Depository Services’ subsidiary that manages KYC records of mutual fund inverters now has over 30 million KYC records of investors.</li></ul>Shares of Central Depository Services (CDSL) have seen a four fold increase (296%) since March 2020 because the number of small investors in the country has grown sharply in the last year. On July 9, the stock gained 3% as the depository’s demat accounts reached 40 million. The company earns a major part of the revenue from the annual fee by listed securities to the depositor followed by transactional charges by brokers for every transaction that is settled. Central Depository Services’s subsidiary that manages KYC (know your customer) records of mutual fund investors now has over 30 million investors in its database. <div type="image" title="CDSL demat accounts" height="900" width="1200" msid="84268414" hostid="261"></div>Source: CDSL The sell-off in equities made the share markets attractive right after the COVID-19 outbreak in the first three months of 2020. That lured a bunch of new investors to open new accounts. The subsequent bull run ⁠— the Sensex has gained as much as 40% since March 2020 then ⁠— led to many more joining in the fear of missing out. “This journey of financial inclusion has to enhance to engage with a higher number of persons to foray into the securities market to achieve the objective to make India a capital market hub that is highly focused on corporate governance, technology, investor protection, transparency and sustainability,” said Nehal Vora, managing director and chief executive of CDSL in a press release on July 8. Tech startups like Zerodha, Groww and Upstox, which provide an easy and convenient way of investment, have also gained immensely from this wave. Zerodha holds 18.85% market share with 3.4 million unique active investors followed by Upstox with 10.9% market share with 1.9 million unique active investors, reveals data by stock market analytics platform Trade Brains. <div type="image" title="Top 5 broking firm active clients" height="900" width="1200" msid="84268454" hostid="261"></div>Source: Trade Brains CDSL’s net profit grew to ₹201 crore in the financial year 2021 from ₹106 crore in March 2020, a rise of 50%. Total income rose to ₹400 crore from ₹284 crore during the period. <div type="image" title="CDSL net profit" height="900" width="1200" msid="84268481" hostid="261"></div> SEE ALSO - <a href="https://www.businessinsider.in/tech/news/google-calendars-new-rsvp-option-will-let-you-specify-how-you-want-to-attend-a-meeting/articleshow/84237490.cms">Google Calendar’s new RSVP option will let you specify how you want to attend a meeting</a> <a href="https://www.businessinsider.in/business/corporates/news/tcs-hires-over-20000-in-june-quarter-its-highest-ever-quarterly-addition/articleshow/84240423.cms">TCS has loaded up half a million peeps as it expects many to move on</a>

CDSL stock has skyrocketed 296% since March 2020 on surge in retail demat accounts

New Delhi, Mar 5 () Regulator Sebi on Thursday proposed two mechanisms to make the e-voting process more secure, convenient and simple for shareholders. At present, multiple players provide e-voting facility to listed entities in the country and shareholders require to register and maintain multiple user IDs and passwords with them, the Sebi noted in a consultation paper. To enable e-voting through a single login credential, Sebi after consultation with the depositories and ESPs suggested a mechanism wherein demat account holders may access e-voting portals of multiple ESPs through web-based services provided by depository participants or depositories. "There are multiple e-voting service providers providing e-voting facility to listed entities in India. This necessitates registration on various ESPs and maintenance of multiple user IDs and passwords by shareholders. Multiple login credentials, apart from being cumbersome for the shareholders to remember, are also prone to misuse," Sebi said. Sebi has proposed authentication of shareholders at the depository level and ESPs shall allow the demat account holders to cast their vote based on the validation carried out by the depository.To enable demat account holders to cast vote on different ESP portals without having to register again with the ESPs, Sebi has proposed two mechanisms.Sebi suggested direct registration with depositories wherein, after the initial one-time registration, shareholders would be able to access the e-voting facilities through mobile or e-mail based OTP verification. Shareholders would be able to access the e-voting links of ESPs without further authentication by ESPs for participating in the e-voting process.Alternatively, demat account holders will have the option of accessing various ESP portals directly from their demat accounts, through the facility provided by the depository. The depositories may authenticate the investors through mobile or e-mail based OTP verification for allowing such access. Thereby, shareholders would be able to access the e-voting links of ESPs without further authentication by ESPs for participating in the e-voting process.Depositories shall share necessary details of the demat account holders with other ESPs and similarly, ESPs shall also share the electronic logs and other related information with respect to the e-voting transactions with the depositories."This facility shall be available to all the shareholders holding the securities in demat mode. ESPs may continue to provide the facility of e-voting to physical shareholders as per the existing process," Sebi said.Sebi said that depositories shall establish a dedicated helpline to resolve technical difficulties faced by shareholders relating to the e-voting facility.Besides, it added that ESPs shall send the details of the vote cast to the shareholders via SMS or e-mail.Comments on the proposal have been sought from the public by March 31, 2020. SRS MRMR

Sebi proposes new mechanism to make e-voting convenient for shareholders

An Ahmedabad citizen got a lottery of not a few hundreds or lakhs, but Rs 11,677 crore in his demat account only to be taken back in a few hours. The money was in his account for more than eight hours. <keyword id="774513" type="General" weightage="80" keywordseo="ramesh-sagar" source="Orion">Ramesh Sagar</keyword> has been investing in the stock market for the last five to six years. A year ago, he opened his demat account with <keyword id="66607" type="General" weightage="80" keywordseo="kotak-securities" source="Orion">Kotak Securities</keyword>. "On July 26, 2022, I received Rs 116,77,24,43,277.10 crore in my account, of which I invested Rs two crore in the stock market and booked profit of Rs five lakh. That very evening around 8 to 8.30 p.m, the bank withdrew the amount," he told IANS. He said he had received a notification from the bank stating: "There is an issue with margin update in the app. you can continue to place orders, but the margin shown will not be updated. We regret the inconvenience and are working on resolving this at the earliest." Not just him, many other demat account holders were also lucky to hit a jackpot that day. When IANS tried to get Kotak Securities' comment on the issue from the western zonal office (<keyword id="6358070" type="General" weightage="20" keywordseo="mumbai" source="Orion">Mumbai</keyword>), the officer on phone said that the investor's pan card or demat account number can't verify the claim and comment on the issue. Update: Kotak Securities has issued the following statement: “On 26th July 2022, due to a technical glitch, additional margin limits were inadvertently uploaded in few clients' trading accounts by Kotak Securities Limited (KSL). These additional limits were reflecting in the clients' trading accounts for a short period. Our IT team had worked on this issue and withdrew the additional limits in a short span of time within the trading hours. We confirm that no amount was transferred to the bank accounts of the clients in this regard. KSL had also promptly reported the said issue to the Exchange on the same day. At KSL we strive hard to make our systems robust and error free to avoid any such incidence in the future.” SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/there-is-a-caste-and-religion-bias-in-salaries-says-an-oxfam-report/articleshow/94219196.cms">There is a caste and religion bias in salaries says an Oxfam report</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/oral-nasal-urine-samples-necessary-for-monkeypox-diagnosis-icmr/articleshow/94219524.cms">Oral, nasal, urine samples necessary for monkeypox diagnosis: ICMR</a>

Tech Glitch: Man loses ₹11,677 crore windfall from demat account in hours

New Delhi, Jan 22 () To streamline the process and reduce the time taken for rights issues by companies, Sebi on Wednesday cut down the period for advance notice given to stock exchanges to three days from the current seven days.
The regulator said it has simplified the rights issue process to make it more efficient and effective.
Under the new framework, the period for advance notice to stock exchange has been reduced from at least seven working days to at least three working days (excluding the date of intimation and the record date), for the purpose of rights issue.
Besides, the regulator said that issuance of newspaper advertisement disclosing date of completion of dispatch and intimation of same to the exchanges for dissemination on their websites, will be completed at least two days before the date of opening of the issue. 
The new framework will be applicable for all rights issues and fast track rights issue where the papers have been filed with the stock exchanges on or after February 14. 
Sebi said applications for a right issue will be only through ASBA facility as a payment mode, which is investor friendly and enables faster completion of the post issue process. A shareholder is not allowed to withdraw application after the closing date of the issue.
The markets watchdog had come out with a discussion paper in May 2019, under which it had proposed to reduce the overall time taken for rights issue to around 31 days as well as make the application and allotment process more efficient. 
Currently, rights issue process takes 55-58 days from the time a company decides to launch the issue till listing. 
In addition, it had proposed to eliminate the requirement of giving newspaper advertisement and replacing it with intimation to the shareholders through the stock exchanges and e-mail.
 Under the new process, Sebi said rights entitlements (REs) will be credited to the demat account of shareholders in dematerialised form.
"In the letter of offer and the abridged letter of offer, the issuer need to disclose the process of credit of REs in the demat account and renunciation thereof," it added.
 In the process, the REs with a separate ISIN (International Securities Identification Numbers) shall be credited to the demat account of the shareholders before the date of opening of the issue, against the shares held by them as on the record date.
 ISIN are used to number specific securities.
 Physical shareholders shall be required to provide their demat account details to issuer for credit of REs within two working days prior to the issue closing date, such that credit of REs in their demat account takes place at least one day before the closing date. 
With regard to trading of dematerialised REs on stock exchange platform, Sebi said such REs will be traded on secondary market platform of exchanges, with T+2 rolling settlement, similar to the equity shares. 
 Trading in REs on the secondary market platform of stock exchanges will begin along with the opening of the issue and will be closed at least four days prior to the closure of the rights issue. 
 "Investors holding REs in dematerialized mode shall be able to renounce their entitlements by trading on stock exchange platform or off-market transfer. Such trades will be settled by transferring dematerialised REs through depository mechanism, in the same manner as done for all other types of securities," Sebi noted.
 In respect of allotment process, Sebi said after reconciliation of valid ASBA applications, funds blocked and REs demat holding list, the registrar will have to finalise allocation of securities offered through rights offering. 
"Registrar shall credit the shares to the respective demat accounts of the applicants based on basis of allotment approved by the designated stock exchange and shall issue instructions to unblock bank accounts wherever necessary,"it added. SP MR
MR

Sebi streamlines rights issue process

New Delhi, Dec 2 () Markets regulator Sebi's prompt action against Karvy Stock Broking Ltd (KSBL) has resulted in nearly 83,000 investors getting back their securities, which were illegally transferred by the broker to its own account and were even pledged without any authorisation.
 With the latest transfer by National Securities Depository Ltd (NSDL), nearly 90 per cent investors have got back their securities and the remaining ones will get after clearing their dues.
 Karvy has taken loans to the tune of Rs 600 crore by pledging securities worth more than Rs 2,300 crore of 95,000 clients with lenders.
 Of these, 95,000 clients, nearly 83,000 of them have got back their securities, which were were illegally transferred by the KSBL to its own account.
 "As per the directions of Sebi and under supervision of NSE, securities have been transferred from the demat account .... named Karvy Stock Broking Ltd to the demat accounts of respective clients who have paid in full against these securities. The number of such clients who have received securities are 82,599," NSDL said in a circular.
 The timely action assumes significance as any any delay could have led to invoking of pledge by lenders with whom the broker had pledged the clients' securities.
 According to market experts, timely action by Sebi has also averted PMC Bank-like situation.
 Leading stock exchanges NSE and BSE on Monday suspended Karvy's trading licence.
 In an order passed on Friday, Sebi said that Karvy unauthorisedly transferred securities worth Rs 2,300 crore of more than 95,000 clients, into one of its demat accounts, by misusing the PoAs (Power of Attorney) given by its clients.
 The demat account was never disclosed by the firm in its filing with the stock exchanges.
 Sebi also said that forensic audit of KSBL, initiated by the NSE "is in progress and the full magnitude of the mis-utilisation of the clients' securities will be known after completion of the forensic audit".
 The regulator, through an order passed on November 22, had barred KSBL from taking new clients in respect of its stock broking activities and also prevented it from using the PoA given by clients after the broker was found to have allegedly misused clients' securities.
 The order was a result of a preliminary report forwarded by the NSE on the non-compliances observed with respect to pledging/misuse of client securities by Karvy. SP BJ RAM

Karvy case: 90% investors get back their securities on prompt Sebi action

New Delhi, Feb 25 () Markets regulator Sebi on Tuesday banned transfer of clients' securities to demat accounts of trading and clearing members. Against the backdrop of Karvy Stock Broking Ltd (KSBL) incident, the watchdog has now put in place stringent norms to prevent misuse of clients' securities that are available with trading and clearing members, and depository participants. The new framework has been devised after extensive consultations with stock exchanges, clearing corporations, depositories and industry representatives of trading and clearing members, and depository participants, according to a circular. "With effect from June 01, 2020, TM (Trading Member) / CM (Clearing Member) shall, inter alia, accept collateral from clients in the form of securities, only by way of 'margin pledge', created in the depository system...," the circular said. In November, the watchdog barred KSBL from taking new brokerage clients after it was found that the brokerage firm had allegedly misused clients' securities to the tune of more than Rs 2,000 crore. On February 17, Sebi chief Ajay Tyagi said it would soon come out with a circular to prevent incidents like KSBL. "Transfer of securities to the demat account of the TM / CM for margin purposes (ie. title transfer collateral arrangements) shall be prohibited. "In case, a client has given a power of attorney in favour of a TM / CM, such holding of power of attorney shall not be considered as equivalent to the collection of margin by the TM / CM in respect of securities held in the demat account of the client," the circular said. RAM MRMR

You Searched For "demat" and got 8 results

Now you can open a demat account with just an Aadhaar card

BI India Bureau

Sebi lays down mechanism to map unique client code with demat account

PTI

CDSL stock has skyrocketed 296% since March 2020 on surge in retail demat accounts

Bhakti Makwana

Sebi proposes new mechanism to make e-voting convenient for shareholders

PTI

Tech Glitch: Man loses ₹11,677 crore windfall from demat account in hours

IANS

Sebi streamlines rights issue process

PTI

Karvy case: 90% investors get back their securities on prompt Sebi action

PTI

Sebi puts in place tighter norms to prevent client securities' misuse

PTI

Popular Keywords

Buying Guides