CDSL Infoline May 06.Pdf
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CDSL Your Depository CDSL TODAY Beneficial Owners During the last 12 months, the number of BO accounts with CDSL has increased by 88.4% from 10.55 lakhs on April 30, 2005 to 19.89 lakhs on April 30, 2006. Depository Participants As on April 30, 2006, CDSL has 322 DPs offering live DP services from 586 locations in 122 cities / towns across the country. Securities Admitted As on April 30, 2006, CDSL has admitted 14,799 securities of which 4819 are equity, 4294 are debt instruments and 5686 are other securities, which include Government Securities, Commercial Papers, Certificate of Deposits and Units of Mutual Funds. Securities Dematerialised During the last 12 months, the volume and value of securities under custody have increased by 41% and 92% respectively. CDSL Infoline 2 www.cdslindia.com CDSL Your Depository CDSL Update The inauguration function was graced by easi - users touches 50K mark: Shri. Ananthakrishna, Chairman & CEO, KBL, On April 8th, 2006, the number of Beneficial Owners Shri. M.R. Mayya, Director, CDSL and Shri. V.V. Raut, registered for CDSL’s internet based facility “easi” crossed MD & CEO, CDSL. 50,000. During the financial year, 2005-06 the number of registered users for easi rose by 90% from 26,265 on ● Development Credit Bank Limited (DCB), a leading 31st March 2005 to 49,383 on 31st March 2006. This private sector bank, commenced its CDSL DP opera- increasing trend is on account of enormous benefits that tions on 17th April, 2006 from 72 branches. easi offers to CDSL BOs. Through easi, a registered BO In line with its philosophy, the Bank has launched a can obtain host of products and information about services aimed at his holdings and providing absolute transactions any convenience in time, anywhere banking. DCB has through an also registered for internet enabled CDSL’s internet computer. BOs facility “easiest”. BOs can also print having a demat their statement of account with DCB holdings and and registered for obtain a valuation easiest can not only of the holdings in avail the benefit of their accounts. viewing their This empowers account balances BOs to take an along with a informed decision valuation of their with regard to portfolio, but can their investments. also issue debit Shri. Ananthakrishna, Chairman & CEO, Karnataka Bank Limited (second from the left), Shri. M.R. Mayya, Director, CDSL(fourth from instructions at a the left) and Shri. V.V. Raut, MD & CEO, CDSL, lighting a lamp to mark the inauguration of the Karnataka Bank’s DP operations. time and place of their convenience. Leading Banks commence CDSL DP operations CDSL has achieved exponential growth in the last ● Punjab & Maharashtra Co-operative Bank (PMCB) 3 years in terms of the number of DPs registered and commenced CDSL DP operations on 9th March 2006, accounts opened. The ease of operations coupled with from its Mumbai, Fort Branch. PMCB a renowned economical running costs make it a viable proposition for urban co-operative bank all over Maharashtra, has DPs to carry out CDSL DP operations. During March - been ranked FIRST for eight years in succession, in April 2006, leading banks have commenced their DP the Mumbai Region by the ‘Maharashtra State Co- operations namely: operative Banks’ Association’ ● State Bank of India, the largest public sector bank in ● The Maharashtra State Co-operative Bank Ltd., India, commenced its CDSL DP operations on 28th Mumbai (MSCB), a leading Apex State Co-operative March 2006 from its Mumbai main branch. This will Bank has commenced CDSL DP operations on the enable the existing customers of the bank to avail of auspicious occasion of Shiv Jayanti, i.e. on Saturday, CDSL DP services from the same location. March 18, 2006. Established in Mumbai in 1911, MSCB the biggest State Co-operative Bank in the ● Karnataka Bank Limited (KBL), a premier country has a wide branch network all over private sector bank, headquartered at Mangalore Maharashtra and India. inaugurated its CDSL DP services on March 16, 2006. www.cdslindia.com 3 CDSL Infoline CDSL Your Depository Investor Education Program on All India Radio now submit the certificates of the BAL to their DP’s for dematerialisation. As a part of its mission towards Investor Education, CDSL conducted a series of six live programmes, CDSL has communicated the same to its DPs vide which were broadcast in “Svar Sanvaad” by All India communique no.689 dated 19th April, 2006 Radio’s Asmita – Marathi Channel. The one hour programme broadcast on AIR every Sunday from PAN Card made compulsory for opening 5th March 2006 to 9th April 2006 included a live Demat Account question/answer session on Demat and various Capital Market related topics. This program was well In order to tighten KYC norms for opening a demat received by AIR listeners, due to which AIR proposes account, SEBI has now made submission of PAN to broadcast a similar programme on its FM channel. Card details mandatory for opening a demat account. An investor intending to open a demat account will now be required to submit a copy of his/her PAN Demat of Share Certificates of Balasore card along with the original, for verification at the Alloys Ltd time of opening the account. Accounts opened BSE vide its notice no. 20060307-10 has permitted before April 1, 2006 will have to submit their PAN the shares of Balasore Alloys Ltd (BAL) to be traded card details before September 30, 2006 in order to under the ISIN number INE135A01024. BO’s can keep their accounts operative. Conversion of Minor BO Account (On attaining maturity) 1. Under what circumstances will a demat If the word “Minor” has not been included in the account be classified as that of a Minor? account holder(s) name(s), then the same A demat account opened by a minor (i.e. 18 years account can be retained on submission of the of age or 21 years of age in case of court- following details/documents to his/her DP: appointed guardian) either in his own name or ● Sign a new DP-BO agreement with joint names with a CDSL DP for holding his own the DP. securities is classified as that of a minor. ● Fill up a fresh account opening form. 2. What should a Minor do when he attains maturity? ● Provide PAN Card details and proof of address of the first holder. When a “Minor” account holder attains maturity (i.e. 18 years of age or 21 years of age in case ● The new signature will be captured in the of court-appointed guardian), he/she should DP records and the same signature should request the DP to change his/her account status be present in all future dealings with the DP from “Minor” to “Major”. since, the old signature would be replaced with the new one. 3. What is the procedure involved in changing my account status from ‘Minor’ ● Guardian details would be deleted. to ‘Major’? ● Existing nomination details would be If the word “Minor” has been included in the cancelled and fresh nomination would have account holder(s) name(s), then the account has to be made. to be compulsorily closed and a new account should be opened in the same name(s) and order 4. Would there be any charges for shifting of account holder(s) by completing the formalities, the balances to my new account? including signing of a fresh agreement as required There will be no charges for shifting balances for opening of a new account. Balances in the old to your new demat account as per SEBI circular account can be transferred to the new account No. MRD/DoP/Dep/Cir-22/05 dated November by submitting a transmission form to your DP. 09, 2005. CDSL Infoline 4 www.cdslindia.com CDSL Your Depository Knowledge Corner Permanent Account Number (PAN) 1. What is a PAN Card? 7. Is it necessary to furnish my PAN card in original to the DP? Permanent Account Number (PAN) is a ten-digit alphanumeric number, issued in the form of a Yes, it is necessary to produce your original PAN card laminated card, by the Income Tax Department. for verification to the DP officials. 8. What if , my PAN card details (Name) does 2. How is PAN card related to my Demat Account? not exactly match with my demat account In order to open a demat account you must have a details? PAN card and are required to submit a photo copy of Incase the name does not match or the PAN card your PAN card along with the other documents details are not present in the PAN card database, DPs required to open a demat account. PAN card can also will seek necessary clarification from you and activate be used as a proof of identity at the time of opening the account only when the discrepancy is resolved. your demat account. 9. Can a PAN Card without a photograph be 3. Is it compulsory to submit my PAN card details submitted? at the time of opening my demat account? This is applicable only to Non-individual entities. All Yes, it is mandatory to submit a copy of your other categories of BOs should produce PAN card PAN card in order to open a demat account. bearing his/her photograph. 4. As an existing demat account holder, would 10.Can I open a demat account based on my PAN I need to submit my PAN Card details to Card application copy? my DP ? You can open a demat account only if you have a PAN Card. You will have to submit your PAN Card before 30th September, 2006 to your DP in order to keep 11.