Depository Participant & Customer Satisfaction With Schil

1.
EXECUTIVE SUMMARY:
The project was undertaken on the lines of MBA curriculum as Two months in plant Training Programme during the 15th may to July 15 !!"# $T%&' (%)*+,&%.P%.AT+%, %/ +,*+A )+M+T0* 1$(&+)23 BA,-A)%.0# /ocussing essentially in its *epository Participant $er4ice and &ustomer $atisfaction#
OBJECTIVES OF THE PROJECT

To know the functions of *epository Participant with reference to $(&+) To understand the Awareness3 Attitudes and Perception of customers towards $(&+)3 its Products and ser4ices To study the customer satisfaction le4el respect to $(&+) To ascertain the factors that moti4ated prefer $(&+)5s ser4ice To de4elop strategies for $(&+) to impro4e its market share
METHODOLOGY
The study on *epository3 *epository participant3 &ustomer $atisfaction was done through Primary and $econdary $ources# PRIMARY SOURCES: 6orking and o7ser4ing in 7ack and front office at $(&+) +nteraction with clients on phone +nteraction with clients at the time of sur4ey *iscussion with staff mem7ers of $(&+) Bangalore# 8uestionnaire 6e7sites materials pro4ided at $(&+) Maga9ines ,ews papers Page ,o 1
SECONDARY SOURCES:
'ousali +nstitute of Management $tudies3 *harwad
SAMPLING PROCESS: &ustomer satisfaction includes response from e:isting clients of $(&+)3 Bangalore $atisfaction on $(&+) o4erall ser4ice includes *P3 Broking ser4ice3 products etc# $ample si9e: 1!! customers of $(&+) Bangalore# FINDINGS: &ustomers are not much aware a7out the products of the $(&+)# $(&+) Tariff on *P ser4ice is high comparati4e with other *P ser4ice#
SUGGESTIONS: Although $(&+) reached stature of 7eing the largest depository participant3 it has to gi4e little 7it attention on following things# $(&+) could rethink on the tariff charged on the ser4ice #it is comparati4ely little high with competitors# And also customers e:press dissatisfaction towards Tariff# 0:isting clients are the just like 7rand am7assador for organisation through that $(&+) can ad4ertise on products and other new ser4ice of $(&+)
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2. SCOPE OF THE STUDY:

The project on ;a study on depository participant and customer satisfaction on $(&+)< in4ol4es functions of depository3 operations of depository participant3 its ser4ice3 customer satisfaction on o4erall products and ser4ice of $(&+)# $tudy on customer satisfaction is gi4e more scope to study a7out $(&+) #it is a multi acti4ity organisation it is engage in the 4arious products like go4ernment 7onds 3stock direct and ser4ice like 7roking deri4ati4es etc#it re=uires in depth study 3customer response is needed #
3. LIMITATIONS OF THE STUDY:

The study is limited only to $(&+)3 J#&#road 7ranch Bangalore# There was a constraint of time The sample si9e is small we can5t draw full picture 7ut + tried my le4el 7est#
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4. INTRODUCTION
-lo7ali9ation of the financial market has led to a manifold increase in the in4estment new markets ha4e 7een opened3 new instruments ha4e 7een de4eloped and new ser4ice has 7een launched# The primary purpose of the financial market is to promote sa4ings3 in4estment and efficient allocation of resources among competing uses# &apital markets one of the principal arms of financial markets3 pro4ide the crucial infrastructure for corporate to access community sa4ings through a mi: of de7t and e=uity instruments# The +ndian in4estor community has undergone a sea change in the past few
years# +ndia now has a 4ery large in4estor population and e4er increasing 4olumes of trades# This continuous growth in acti4ities has also increased pro7lems associated with stock trading# Most of these pro7lems arise due to the intrinsic nature of Paper Based Trading and $ettlement3 like theft or loss of share certificates# This system re=uires handlings of huge 4olumes of papers that increase cost and inefficiency and thus make the in4estors as well as 7rokers wary of +ndian capital market #e4er since the regulatory authority3 $0B+ was esta7lished in
1?@@3 and the securities markets rules got codified and announced 7eforehand# &harged with the responsi7ility of de4eloping the regulations3 administering3 monitoring and protecting the in4estors $0B+ o4er years had ensured that the market encompasses all the characteristics of a well de4eloped capital market# The major changes effected in the market: Book 7uilding in primary market *emateriali9ation of securities .egulations for almost all financial intermediaries )icensing of 4arious intermediaries with rapid standards of entry ser4icing and +nspection constant monitoring of market 4olatility and proacti4e safeguard to a4oid systemic failure
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CAPITAL MARKET: The + ndian financial system consists of money market and capital market#
The capital market consists of primary and secondary markets# The primary market deals with the issue of new instruments 7y the corporate sector such as e=uity shares3 preference shares and de7t instruments# The secondary market or stock e:change is a market for trading and settlement of securities that ha4e already 7een issued# The in4estor5s holdings sell through registered 7rokersBsu7C 7rokers of the stock e:change# The securities transactions in4ol4e a wide range of intermediaries# Besides the in4estors D7e it institutional or indi4idual Dthere are 7rokers3 stock e:change3 clearing corporation3 clearing 7ank3 custodian3 depository participant and depository#
Br !"r#:
Brokers are one of the most important participants in the capital markent#they are mem7ers of recogni9ed stock e:changes 3who 7uy 3sell or otherwise deal in securities #any in4estor D indi4idual 3institutional or corporate D who intends to 7uy or sell securities through a stock e:change #
C$"%r&'( M")*"r:
04ery 7roker in stock e:change offering settlement in demateriali9ed securities opens a distinct account called ;clearing mem7er account< it is identified with a num7er called &MCBPC+* 1clearing mem7er 7usiness partner id2 if a 7roker deals in more than one stock e:change #the *+ slip should contain the &MCBPC+* rele4ant to the stock e:change in which the trade was done#
N&+,-:
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The national stock e:change has an inde: called the ,ifty 1officially $EP &,F ,ifty2#it is for fifty stocks
S, .! "/.0%'("
+ndian stock e:change esta7lished in Bom7ay is the oldest stock e:change in Asia# The stock e:change3 Mum7ai popularly known as ;B$0< was esta7lished in 1@G5# ,$0 C,ational stock e:change of +ndia started its operation in 1??A3 %T&0+ Do4er the counter e:change of +ndia it5s aimed at fully transparent market#
I'1"/:
An inde: is a comprehensi4e measure of market trends3 intended for in4estors who are concerned with general stock market price mo4ements# An inde: comprises stocks that ha4e large li=uidity and marketcapitali9ation#each stock is gi4en a weightage in the inde: e=ui4alent to its market capitali9ation #at the ,$0 3the capitali9ation of ,+/TH 1fifty selected stocks 2 is taken as a 7ase capitali9ation similarly B$0 sensiti4e inde: comprises >! selected stocks
S"'#"/:
+t is the 7enchmark inde: for the +ndian stock market #it is the most fre=uently used indicator while reporting on the state of market# The sense: is the oldest in the country# it is for thirty stocks#
L&#,&'( + #".2r&,&"#:
)isting means admission of the securities to dealings on a recogni9ed stock e:change# The securities may 7e of any pu7lic limited company3 central or state go4ernment and other financial institution Bcorporations3 municipalities etc#
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T0" *3".,&4"# + $&#,&'(: Pro4ides li=uidity of securities Mo7ili9e sa4ings for economic de4elopment Protecting interest of in4estors 7y ensuring full disclosures
DEPOSITORY SYSTEM IN INDIA The first *epository in the world was setCup way 7ack in 1?AG in -ermany# Then the total num7er of depositories in the world was > only and the num7er may cross !!# *epository in +ndia is a relati4ely new concept as it was introduced in 1??" with the enactment of *epositories Act 1??"# The *epositories Act passed 7y Parliament recei4ed the President5s assent on August 1!3 1??"# +t was notified in a -a9ette on August 1 of the same year# The *epository Act3 1??"3 defines a depository to mean3 ;a company formed and registered under the &ompanies Act3 1?5" and which has 7een granted a certificate of registration under su7Csection 1+A2 of section 1 of the $ecurities and 0:change Board of +ndia Act3 1?? # *epository is an organi9ation where the securities of a share holder are kept in the electronic form at the re=uest of the share holder through medium of a depository participant# The principal function of a depository is to *emateriali9e securities and their transaction in 7ook form electronically# *epository functions like a
security 7ank3 where the *emateriali9ed securities are traded and held in custody# This facilitates faster3 riskCfree and low cost settlement similar to 7ank# /ollowing ta7les compares the two
BANK DEPOSITORY
(old funds in account (old securities in accounts Transfer funds 7etween accounts Transfer securities 7etween accounts Transfer without physically handling Transfer without physically handling money securities
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$afekeeping of money
$afekeeping of securities
*epository system ha4e empanelled agents3 they are called *epository Participants 1*Ps2# A *epository participant 1*P2 is the representati4e in the *epository system that will maintain the account holder5s securities 7alances# The relationship 7etween the *Ps and *epository is go4erned 7y agreement specified in the ByeClaws of ,$*)B&*$) as appro4ed 7y $ecurities 0:change Board of +ndia 1$0B+2#
At present in +ndia there are two depositories
DEPOSITORY
CSDL NSDL .
NSDL 5N%,& '%$ S".2r&,&"# D"6 #&, r- L&)&,"17: ,ational $ecurities *epository )imited is the first +ndian *epository was inaugurated in ,o4em7er 1??"#+t was set up with a initial capital of I$ J @3 promoted 7y the +ndustrial *e4elopment Bank of +ndia 1+*B+23 Init Trust of +ndia 1IT+2 and ,ational $tock 0:change of +ndia )td 1,$02# )ater $tate Bank of +ndia 1$B+2 also 7ecame a shareholder#
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,$*) is a pu7lic limited company incorporated under the &ompanies Act 1?5"# ,$*) had a paidCup e=uity capital of .s# 1!5 crore# The paid up capital has 7een reduced to .s# @! crore since ,$*) has 7ought 7ack its shares of the face 4alue of .s# 5 crore in the year !!!# (owe4er3 its net worth is a7o4e the .s# 1!! crore3 as re=uired 7y $0B+ regulations# ,$*) performs following functions through *epository Participants 1*P5s2 0na7les the surrender and withdrawal of securities to and from the depository 1*emateriali9ation and reCmateriali9ation2# Maintains in4estor holdings in the electronic form# 0ffect settlement of securities traded on the e:changes# &arries out settlement of trades not done on the stock e:change 1offCmarket trades2# Transfer of securities# PledgingBhypothecation of *emateriali9ed securities# 0lectronic credit in pu7lic offerings of companies or corporate actions# .eceipt of nonCcash corporate 7enefits like 7onus rights3 etc# in 0lectronic /orm# $tock lending and 7orrowing#
NSDL S"r4&.": ,$*) offers a host of ser4ices to the in4estors through its network of *Ps: Maintenance of 7eneficiary holdings through *Ps *emateriali9ation %ffCmarket Trades $ettlement in *emateriali9ed securities .eceipt of allotment in the *emateriali9ed form *istri7ution of corporate 7enefits .eCmateriali9ation Pledging and hypothecation facilities /ree9ingBlocking of in4estorKs account Page ,o ?
$tock lending and 7orrowing facilities /ees $tructure of ,$*)
NSDL charges to DPs not investors directly.
CDSL 5C"',r%$ D"6 #&, r- S"r4&." L&)&,"17:
The other *epository is &entral *epository $er4ices 1&*$)2 #+t secured its certificate for commencement of 7usiness on /e7ruary @31??? from $0B+#+t is promoted 7y The $tock 0:change Mum7ai 1B$02 in association with Bank of +ndia3 Bank of Baroda3 $tate Bank of +ndia and (*/& Bank# B$0 in4ol4es with this Lenture right from the inception and has contri7uted o4erwhelmingly to the fruition of the project# ,ow the initial capital of the company is .s 1!1 crores# E$&(&*&$&,- .r&,"r&% + r % D"6 #&, r-: Any of the following may 7e depository 1# A pu7lic financial institution as defined in section A a of the companies act of 1?5" # A 7ank included in the second schedule to the .B+ act3 1?>A# ># A foreign 7ank operating in +ndia with appro4al of the .B+ A# .ecogni9ed stock e:changes 5# An institution engaged in pro4iding financial ser4ices where not less than G5M of "# The of e=uity is held jointly or se4erally 7y the these institutions# G# A custodian of securities appro4ed 7y go4ernment of +ndia @# A foreign financial ser4ices institutions appro4ed 7y go4ernment of +ndia F2'.,& '# + D"6 #&, r-:
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D")%,"r&%$&8%,& ': %ne of the primary functions of depository is to eliminate or minimi9e the mo4ement of physical securities in the market #this is done through con4erting securities held in physical form in to holdings in to 7ack entry form# A.. 2',# ,r%'#+"r: The depository gi4es effects to all transfers resulting from the settlement of trade and other transaction 7etween 4arious 7eneficial owners 7y recording entries in the accounts of such 7eneficial owners# Tr%'#+"r %'1 r"(&#,r%,& ': A transfer is a legal charge of ownership of a security in the records of the issuer transfer of securities under *emat occurs merely 7y passing 7ook entries in the records of the depositories3 on the instructions of 7eneficial owners# P$"1(" %'1 0-6 ,0".%,& ': *epositories allow the securities placed with them to 7e used as collateral to secure loans and other credits# The securities pledged are transferred to a segregated or collateral account through 7ook in the records of depository# L&'!%(" 9&,0 .$"%r&'( #-#,"): The clearing system performs the functions of ascertaining the payCin or pay of 7rokers who lea4e traded on the stock e:change #actual deli4ery of securities to the clearing system from the selling 7rokers and deli4ery of securities from the clearing system to the 7uying 7roker is done 7y depository to achie4e this depositories and the clearing system are linked electronically#
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:. INTRODUCTION TO SHCIL:
$tock (olding &orporation of +ndia )imited 1$(&+)2 was promoted 7y pu7lic financial institutions and insurance majors like +*B+3 IT+3 +&+&+3 )+&3 -+& and its su7sidiaries3 +/&+ and ++B+# +t was incorporated on @th July3 1?@"# $(&+) acts an intermediary 7etween in4estors and ,$*) B &*$)# $(&+) commenced operation in August 1?@@ and has 7een pro4iding custodial related ser4ices of international standard for more than a decade# $(&+)5s clients include all major in4estment institutions3 insurance companies3 major mutual funds and large pu7lic sector and pri4ate sector 7anks $(&+) is the first *epository participant to start *epository ser4ices# 6ith the introduction of the *epository system in the country3 $(&+) commenced e:tending *epository related ser4ices to the retail segment as well and o4er the last si: years3 it has as come to ac=uire the stature of the largest *epository participant 7esides 7eing the country5s largest custodian# The &orporation pro4ides *epository related ser4ices to its retail segment through 1A! offices located across the length and 7readth of the country# STOCK HOLDING CORPORATION INDIA LTD; BANGALORE# ,um7er of 7ranches in 'arnataka Bangalore J#& ,agar (ead office Jay ,agar 'ormangala Malleswaram Belgaum Page ,o 1
*a4angere -ul7arga (u7li Mangalore My sore $himoga Idupi
DEPARTMENTS: $(&+) has 7een di4ided into fi4e departments3 namely /ront office Back office *ispatch /inance department Automation FRONT OFFICE: &onsists of the following: Account opening Acceptance for *emateriali9ation Acceptance of Trades instruction 8ueries The in4estors willing to open a *emat account has to 4isit this counter# The clients willing to su7mit their share certificates for *emat su7mit Their *emat re=uest forms along with the share certificates# The in4estors or the clients or the clearing mem7ers willing to do transaction such as market trade or offCmarket trade su7mit their trade instruction form at this counter# The customers willing to know their 7alances regarding their holdings and transactions are eligi7le to make =ueries in this counter# %nce the front office work is o4er the documents are transferred to 7ack office# BACK OFFICE:
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&onsists the following# Account opening Any in4estor who wishes to a4ail depository ser4ices must first open an account with a *epository participant of ,$*)# The in4estor can open an account with any depository participant of ,$*)# An +n4estor may open an account with se4eral *Ps or he may open se4eral accounts with single *P# After e:ercising this choice3 the in4estor has to enter into an agreement with the *P# The form and contents of this agreement are specified 7y the 7usiness rules of ,$*)# D")%,"r&%$&8%,& ' %ne of the methods for pre4enting all the pro7lems that occur with physical securities is through *emateriali9ation 1*emat2# The share certificates are shredded 1i#e#3 its paper form is destroyed2 and a corresponding credit entry of the num7er of securities 1written on the certificates2 is made in the account opened with the *epository Participant 1*P2 R")%,"r&%$&#%,& ' *emateriali9ation department is engaged in the process of con4erting indi4idual in4estor physical certificates into an e=ui4alent num7er of securities in electronic form and credited into the in4estor5s account with his or her *P# %ne of the 7asic ser4ices pro4ided 7y ,$*) is to facilitate transfer of securities from one account to another at the instruction of the account holder# +n ,$*) depository system 7oth transferor and transferee ha4e to gi4e instructions to its depository participants N*PsO for deli4ering Ntransferring outO and recei4ing of securities# (owe4er3 transferee can gi4e K$tanding +nstructionsK N$+O to its *P for recei4ing in securities# +f $+ is not gi4en3 transferee has to gi4e separate instructions each time securities ha4e to 7e recei4ed# Transfer of securities from one account to another may 7e done for any of the following purposes:
Transfer due to a transaction done on a person to person 7asis is called KoffCmarketK
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Transaction# Transfer arising out of a transaction done on a stock e:change# Transfer arising out of transmission and account closure#
DISPATCH: %nce the documents are cleared from the account opening department and the *0MAT department it comes to the dispatch# This section does the following acti4ities: +t dispatches the holding of the concerned clients# The person dispatches the *./ along with the share certificate to the concerned companies for demateriali9ation# Along with this the dispatch section performs all the acti4ities of correspondences of dispatching the documents of the concerned places# AUTOMATION DEPARTMENT: The Automation department deals with the following: This dept logs on the computer and the network# *ownload and uploadation of the data and records# Back up of files# &hecks the functioning and the networks#
FINANCE DEPARTMENT: This department deals with the collection of funds and maintenance and e:penditure of the company or the di4ision of 7ranch office# Moreo4er it looks into the daily e:penditure and the payment of salary to the working mem7ers# +t also maintains the records of the daily e:penses occurred# This department is responsi7le for the whole financial transaction of the company# of income
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PRODUCTS AND SERVICE OF SHCIL:

Pr 12.,# ++"r"1 *- SHCIL:
A11 #0%r"#:
$tock holding has tie up with reputed 7anks3 which offer the most competiti4e interest rates in the market# The clients can use the shares in their free account as collateral and take a loan from any of an empanelled 7ank# The stock holding completes the documentation and processing and gi4es the che=ue to the customers# This is a pure 4alueCadd to your depository account with stock holding#
A** shares is a4aila7le at $(&+) centers in all the major cities F"%,2r"#: )oan against *emat shares held in the *P account with $(&+)# &ompetiti4e interest rates from a range of Banks $(&+) ha4e tied up with# $(&+) processes the entire paperwork re=uired with the 7ank# The ser4ice is a4aila7ility at o4er 1!! 7ranches in the $(&+)#
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A14%',%("#: The stock holding tieCups with 7anks gi4es a wide range of 7anks to choose from this reads as a wider range of specified and nonCspecified shares to get a loan against# The A** shares team helps you with the paper formalities precedent to a loan# The clients can now get a loan at competiti4e interest rates and margins# This is a resultant of our tieCup with a wide range of 7anks# A** a share simplifies longCwinded loan procedures for you and facilitates early dis7ursement of funds Add shares are a4aila7le at 1 ! 7ranches all o4er#
E<2&*2-:
The clients gone through endless waiting periods after 7uying shares on the e:change e4en after payments ha4e 7een made the client has to wait patiently to see those shares reflected in their *emat account# 6ith the odd surprise of not seeing them at all which the client cannot discount# A depository participant3 $(&+) assures a safe deli4ery of shares e4ery time you 7uy on the e:change# The $(&+) ha4e lined up a panel of reputed 7rokers who process orders on priority# $(&+) position as the clearing corporations of leading stock e:changes ensures smooth and sure credits into an account# An initial ad4ance and timely replenishments into the Purchase Ad4ance account take care of the payment for your purchases# F"%,2r"#: An 0=ui7uy instruction from clients gets the shares credited into the account the ne:t day of payout# Payment for purchase made from a running account called Purchase
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Ad4ance into which the remit an initial ad4ance of .s#13 !!! and maintain a minimum 7alance of .s# 5! at all times# &hoosing one or more 7rokers from a list of GG 7rokers empanelled with $(&+)# .egistration with 7roker is not necessary if client is already registered under any of our other product schemes Purchase on B$0 or ,$0#
A14%',%("#
Buy shares with a single instruction and get an assured credit of shares into clients account the ne:t day of payout# )ea4e the settlement procedures and 7roker interaction to $(&+)# +t affects a faster turnaround of your portfolio# 0=ui7uy has a 4ery nominal charge attached to it# An initial ad4ance of .s#13 !!! in the Purchase Ad4ance account and replenishments3 as and when necessary3 it take care of payment for clients purchases
F2'1 &'4"#,)"',:
/und +n4est is a 7asket of financial products3 ranging from fi:ed income securities like fi:ed deposits3 +nfrastructure 7onds and &apital -ain Bonds to 4aria7le income securities like +nitial Pu7lic %ffers 1+P%5s2 of 0=uities and Mutual /unds# +t is an attempt to offer financial products that cater to the 4arious in4estments needs of esteemed clients of $(&+)# An effort to guide the in4estor to a product portfolio that 7est suits his riskC returns profile# Applications for in4estments can 7e source from any of the $(&+) offices# Apart from guiding3 in4estor to pick up the right com7ination of in4estment instruments3 $(&+) help them KafterCsalesK ser4ice3 7y acting as an interlocutor 7etween the in4estor and the issuer of the securities# $(&+) is an AM/+ .egistered Mutual /und Ad4isor 1A.M/A2# F"%,2r"#:
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At present3 $(&+) are distri7uting schemes of 5 different Mutual /und# All these /unds offer wide 4arieties of in4estment option depending on the risk appetite of the in4estor# $ome of the major categories are: *e7t /unds: The *e7t /unds ha4e the mandate of in4esting primarily in *e7t papers 0=uity /unds: The 0=uity /unds ha4e the mandate of in4esting primarily in 0=uities Balanced /unds: The Balanced /unds ha4e the mandate of in4esting 7oth in 0=uities as well as *e7t papers# &apital -ains Bonds come under 5A 0& &apital -ains Bonds3 where in4estors get e:emption from &apital -ain ta:# These are Kon Ctap K issues# At present3 $(&+) is distri7uting &apital -ain Bonds of .ural 0lectrification &orporation3 ,ational (ousing Bank3 $mall +ndustries *e4elopment Bank of +ndia and ,ational (ighway Authority of +ndia# +&+&+ Bank and +*B+3 with $ection @@ as the main feature issue infrastructure Bonds
Pr&4%," P$%.")"',#: $tock (olding distri7utes *e7t papers issued for Pri4ate Placement with $tructural %7ligations 7y the $tate and &entral -o4ernment3 typically targeted for Trusts and Pro4ident /unds# F&/"1 D"6 #&,#: $(&+) distri7ute /i:ed *eposits with high in4estment rating and issued 7y 7lueC chip corporate# These papers generally offer 5! to 1!! 7asis points more than 7ank fi:ed deposits of compara7le period# At present3 they are distri7uting +*B+ $u4idha /i:ed *eposits and (*/& /i:ed *eposits# +nitial Pu7lic %ffer: +P%s offered from 7lue chip corporate can 7e su7scri7ed from $tock (olding# +ssues recently distri7uted 7y $(&+) are &anaraBank3 Allah 7ad Bank3 Bharti Tele and +C /le:#
GOI B '1#:
.B+ on 7ehalf of -o4ernment of +ndia issues $a4ings Bonds in two different series# "#5Mta:Cfree7onds @#!M ta:a7le 7onds 'ousali +nstitute of Management $tudies3 *harwad Page ,o 1?
These Bonds are held in electronic form in an account called Bond )edger Account 5BLA7. Bond )edger Accounts can 7e opened and operated with .B+ designated recei4ing %ffices# .B+ has designated $(&+) as one of the .ecei4ing %ffices for this purpose# $u7scriptions for $a4ings Bonds can 7e su7mitted at any of the 7ranches# $a4ings Bonds 7eing so4ereign in nature are a7solutely safe and an attracti4e in4estment option in the current 4olatile market situation# The following categories can su7scri7e to $a4ings Bonds: &ategory of +n4estor "#5M 1Ta:Cfree2 E @#!M1Ta:a7le2# A14%',%("#: (ow an in4estor 7enefit 7y in4esting in -%+ $a4ings Bonds: (assle free maintenance: The -%+ Bonds are held in electronic form in an account called Bond )edger Account# This ensures smooth in4esting minus paperwork# E$".,r '&. C$"%r&'( S"r4&."#: The in4estor can a4ail of 0lectronic &learing $ystem 10&$2 ser4ices# This ensures automatic credit of 7enefits and redemptions when they accrue# E%#- %.."##: +n4estor can apply for su7scriptions into these Bonds in any $(&+) center across the country# D&#6%,.0: &ertificate of (oldings are dispatched to the client through courier on reali9ation of su7scription
S, .! 1&r".,:
$tock direct has changed the way you look at trading in securities# /rom your %wn desktop client can now send instructions for 7uyingBselling shares# A threeCway handshake 7etween leading 7rokers3 national and international 7anks and $(&+) is the cru: of $tock direct# $tock direct C +ndiaKs first online trading platform was launched in 1???# Today $tock direct is the most secure online trading platform which com7ines encryption technology B digital signature as well as $mart &ard security features# A few clicks will seamlessly check client5s funds and security positions3 route the order to the 7roker of choice and do the necessary fund and share mo4ements for the client# /or people who are not inclined to trading on the net3 $(&+) ha4e .e=uest Transmitting 'ousali +nstitute of Management $tudies3 *harwad Page ,o !
Machines 1.TMs2 placed at specified $(&+) centers# This is an electronic touch screen kiosk where you can insert your smart card and trade effortlessly F"%,2r"#: A single instruction ena7les client to com7ine the trading3 fund and share transfers with $(&+) taking care of the settlement# Trade from home on the +nternet with a floppy containing the $tock direct software or use the $mart &ard to trade through the .e=uest Transmitting Machines 1.TMs2 placed at specified $(&+) centers and partner 7anksK designated 7ranches# $ecurity measures 7ased on encryption and digital signature coupled with smart card technology make online deals 1!!M secure# %pen an account with partner Banks or open a Purchase Ad4ance account with $(&+) to facilitate your fund transfers#
A14%',%("#: %ne $top $hop gi4es a single instruction towards funds confirmation for 7uy orders3 order routing to your 7roker and fund and share mo4ements for settlement purpose &on4enience Trade from home through the net or use the .TMs placed at specified $(&+) centers $ecurity *igital $ignature E $mart &ard technology 7ased on 1 @C7it 0ncryption make your transactions 1!!M secure# &ost effecti4e Minimum 4alue of transactions
INSURANCE
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$(&+)3 a company promoted 7y +nsurance majors E /inancial +nstitutions3 is a &orporate Agent of )+& for )ife +nsurance products and ,+A for -eneral +nsurance products# $(&+) has a dedicated team of +.*A &ertified +nsurance Ad4isors to pro4ide all ser4ices relating to +nsurance# $(&+) also pro4ide /ree Professional ad4ice to clients on need 7ase insurance#$(&+) has 1!! odd Branches all o4er +ndia to take care of all +nsurance related =ueries and needs# F"%,2r"# An insurance policy compensates clients against the financial impact that can arise following loss3 damage or destruction of your property 1such as home or 4ehicle2 or your health or life# A fundamental principle of insurance is to put you in the same financial position after a loss or accident that enjoyed 7efore the loss# This is relati4ely easy with repair or replacement of 1say2 a car3 7ut is much more difficult with the loss of a life# The insurance policy is a contract and like any contract contains clauses and &onditions# &laims are settled in accordance with the conditions detailed in the policy# $(&+) distri7utes )ife insurance policies of )+& and ,onC)ife insurance policies of ,+A# The ser4ice is a4aila7le at any of o4er 1!! 7ranches of $(&+)#
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'omal jee4an Jee4an kishore plan Jee4an chayya plan 1!>

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0ndowment with profits 1A )imited payment endowment with profits plan A@ Jee4an mitra plan 1>> Join life 1jee4an sathi2 policy plan @? A# .0T+.0M0,T P)A,
STOCK DIRECT
$T%&' direct has changed the way you look at trading in securities# /rom your desktop customer can now send instructions for 7uyingBselling shares# A threeCway hand shakes 7etween leading 7rokers3 national and international 7anks and $(&+) is the cru: of $T%&' direct# $tock direct C +ndiaKs first online trading platform was launched in 1???# Today $tock direct is the most secure online trading platform which com7ines encryption technology B digital signature as well as $mart &ard security features# A few clicks will seamlessly check your funds and security positions3 route the order to the 7roker of your choice and do the necessary fund and share mo4ements for Hou# /or people who are not inclined to trading on the net3 $(&+) ha4e .e=uest Transmitting Machines 1.TMs2 placed at specified $(&+) centers# This is an electronic touch screen kiosk where client can insert smart card and trade effortlessly# A14%',%("# %ne $top $hop -i4e a single instruction towards funds confirmation for 7uy orders3 order routing to 7roker and fund and share mo4ements for settlement purpose# &on4enience $ecurity Trade from home through the net or use the .TMs placed at specified $(&+) centers# *igital $ignature E $mart &ard technology 7ased on 1 @ 7it 0ncryption make transactions 1!!M secure# &ost 0ffecti4e &hoice of $tock 0:changes Page ,o > ,o minimum 4alue of transaction#
BuyB$ell shares on B$0 B ,$0# T%r&++ Brokerage !#5!M with a minimum of .s 5!BC per client per 7roker per settlementP# ,ormal +$A charges applica7le as per clientKs tariff scheme# $er4ice ta: applica7le as per -%+ notifications# Media charges 1%ne time charge2 $mart &ard option: .s "!!BC $oftware option: .s "!!BC 1$lashed to .s#1!! for a limited time#2 $mart &ard and $oftware option: .s#1!!!BC
SERVICE
Tr%1" 6r ."##&'( #"r4&."# $(&+) has specially trained personnel handling thousands of trade instructions in4ol4ing large 4alues on sophisticated systems using digital signature on $TP 1$traight through Processing2 systems3 ensuring smooth trade confirmations to $tock 0:changes3 reporting and resolution of mismatches with &lients3 etc#
S",,$")"', #"r4&."#
+nstitutional trades are either settled through the &learing (ouse of the $tock 0:changes or as *LP directly with the contracting 7roker or &ounter Party# As a &ustodian $(&+) stri4es for timely settlement of /unds and $ecurities# /unds are collectedB deposited fromBto client and settled with the &learing (ousesB BrokersB &ounter Parties# +n the present conte:t3 most of the +nstitutional trades are settled in the *epository mode# /or the +nstitutional segment alone3 $(&+) has a uni=ue clearing code on the two principal stock e:changes and separate *PM units on 7oth ,$*) and &*$)#This
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ensures smooth settlement of transactions on 7oth 0:changesB*epositories3 7ased on the deli4era7les and recei4a7les recei4ed 7y them for each settlement# /or the occasional deli4ery and receipt of securities in the physical mode3 $(&+) ensures prompt scrutiny3 processing and lodgment of securities with the respecti4e &ompanyB.egistrar and Transfer Agent3 with the o7jecti4e of final transfer to the purchaser3 with o7jections handling if needed3 thus facilitating deli4ery of securities to the parties concerned on sale# P0-#&.%$ C2#, 1- #"r4&."# The transferred physical securities3 when recei4ed3 are held in stateCofCtheCart3 highC security 4aults on 7ehalf of the clients# A pioneer in introducing the 7arCcoding system to Track certificates3 $(&+) ensure the a4aila7ility of each and e4ery share certificate at a moments notice# I'#,&,2,& '%$ DP S"r4&."#
$(&+) has installed dedicated *PM5s 1*epository Participant Modules2 on 7oth the *epositories3 4i9# ,$*) 1,ational $ecurities *epository )td2 and &*$) 1&entral *epository $er4ices )td2 A dedicated +nstitutional *P team at $(&+) addresses your need for all core *P ser4ices like con4ersion of physical holdings into electronic form3 settlement of trade instructions3 .ematerialisation3 repurchase and pledge instructions3 pro4iding of holding and transaction statements and daily reconciliation of client holdings#
NRI #"r4&."
%4er the years3 $(&+) has grown to 7ecome a major player in the capital market# 6ith a network of more than 1A! offices operating across the country and franchisees operating a7road3 $(&+) pro4ides *epository Participant and related ser4ices close to !#G million satisfied in4estors out of which o4er "!!! are ,.+ &lientele#
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$(&+) has a fullCfledged ,.+ cell operating specifically to cater needs pertaining to *epository account opening and maintenance# ,.+ cell coCordinates with prospecti4e ,.+ customers3 collects and assists in o7taining the rele4ant documents and ensures the *epository Account is opened hassle free# ,.+ &ell collects physical certificates to 7e sent for *emat and ensures that the certificates are in order and can 7e sent for *ematerialisation under the e:isting guidelines issued 7y the depositories# +nstructions for trade are accepted 7y fa: on re=uest 7y ,.+ &ell to ensure timely settlement of trades# +n this case later on the client needs to regularise 7y sending the original trade deli4ery instruction# Any tariff and 7illing related =uery are addressed 7y ,.+ &ell#
+n short ,.+ &ell is a single point contact for any matter relating to ,.+ *epository operations#
D"r&4%,&4" #"r4&.":
$(&+) pro4ides &learing $er4ices for deri4ati4e segment of B$0B,$0 and &ommodity segment of M&FB,&*0F# *eri4ati4e ser4ices are classified into two they are: a2 $tock deri4ati4e ser4ices3 72&ommodity deri4ati4e clearing ser4ices# As a professional clearing mem7er3 $(&+) performs the following functions: a2 &learing C &omputing o7ligations of all his TM5s i#e# determining positions to settle# &ollection of collateral 1cashBcash e=ui4alents and 72 $ettlement C Performing actual settlement# c2 &ollateral Management C securities23 4aluation on a regular 7asis 1as per J# .# Larma recommendations2 and setting up e:posure limits for TMs and +nstitutional clients# d2 .isk Management C $etting position limits 7ased on upfront deposits B margins for each TM and monitoring positions on a continuous 7asis#
S, .! *r !&'( #"r4&."
'ousali +nstitute of Management $tudies3 *harwad Page ,o "
$tock (olding &orporation of +ndia ltd3 Bangalore recently started the stock 7roking ser4ice on 1@th June !!" Tariff structure Ddeli4ery 7ased Base 7rokerage &umulati4e transaction 4alue 5C1! lacs 1!C ! lacs !C5! lacs 5! lacsC1crore 1 croreC crore crore C5 crore 5 croreC1! crore 1! crore and a7o4e Brokerage !#55M !#5!M !#A5M !#A! !#>5 !#>! !# 5 !# ! !#15
=. DEPOSITORY PARTICIPANT:
*epository participant is an agent of the depository through which it interfaces with the in4estor #a *P can offer depositary ser4ices only after it gets proper registration from $0B+#
A *P can 7e a 7ank3 financial institution3 custodian or a 7roker# Just as one opens a 7ank account in order to a4ail the ser4ices of a 7ank3 in4estors opens a *epository account with *epository Participants in order to a4ail of *epository ser4ices# *epositories ha4e appointed different *epository Participants 1*P2 who works as agents for them# An in4estor can open an account with any of the depositories5 *P# *epositories ha4e appointed different *epository Participants 1*P2 who works as agents for them# An in4estor can open an account with any of the depositories5 *P# +n order to facilitate transfers 7etween in4estors ha4ing accounts in the two e:isting depositories in the country3 the $ecurities and 0:change Board of +ndia 1$0B+2 has asked all stock e:changes to link up with the depositories# $0B+ has also directed the companies5 registrar and transfer agents to effect change of
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registered ownership in its 7ooks within two hours of recei4ing a transfer re=uest from the depositories# %nce connected to 7oth the depositories3 the stock e:changes also ha4e to ensure that interCdepository transfers take place smoothly# +t also in4ol4es the two depositories connecting with each others The ,$*) and &*$) ha4e signed an agreement for an interC depository connecti4ity# *epository Participant ser4ices address indi4idual in4estment needs# Across the country3 fourteen *epository Participant Machines 1*PMs2 connected to ,$*) and se4en connected to &*$) ensure fast and direct processing of instructions#
Person 7elonging to one of the following categories are eligi7le to 7ecome *P5s: A pu7lic financial institution as defined in section A A of the companies act 1?5" A 7ank included for the time 7eing in the second schedule to the .eser4e 7ank of +ndia act 1?>A# A foreign 7ank operating in +ndia with the appro4al of the reser4e of the 7ank of +ndia A state financial corporation esta7lished under the pro4isions of section > of the state financial corporation act 1?51# A custodian of securities who has 7een granted a certificate of registration 7y $0B+# ADVANTAGES OF DP SERVICE
0liminates risk associated with physical certificates such as loss3 mutilation3 forgery etc
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+mmediate transfer and registration of securities ,o stamp duty on transfer of shares (andling large 4olume of paper reduced ,o 7ad deli4eries /aster settlement cycle /aster dis7ursement of nonCcash 7enefits .eduction in 7rokerage 0limination of pro7lems related to change of address of in4estor3 transmission etc
I'#,&,2,& '%$ DP #"r4&.":

$(&+) is the largest depository participant in +ndia with3 fourteen depository participant machines 1*PM5s2 connected to ,$*) and se4en connected to &*$) ensure fast and direct processing of instructions#
DP #"r4&." &'.$21"#:
%pening up of an account Transmission and nomination *emateriali9ation *irect *emat Pledge .eporting
Account opening
'ousali +nstitute of Management $tudies3 *harwad Page ,o ?
Any in4estor who wishes to a4ail depository ser4ices must first open an account with a *epository participant of ,$*)# The in4estor can open an account with any depository participant of ,$*)# An +n4estor may open an account with se4eral *Ps or he may open se4eral accounts with single *P# After e:ercising this choice3 the in4estor has to enter into an agreement with the *P# The form and contents of this agreement are specified 7y the 7usiness rules of ,$*)# Types of Accounts Type of depository account depends on the operations to 7e performed# There are three types of demat accounts which can 7e opened with a depository participant 4i9# Beneficiary Account &learing Mem7er Account and +ntermediary Account#
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A *P may 7e re=uired to open three categories of accounts for clients C Beneficiary Account3 &learing Mem7er Account and +ntermediary Account# 'ousali +nstitute of Management $tudies3 *harwad Page ,o >!
A Beneficiary Account is an ownership account# The holderBs of securities in this type of account owns those securities# The &learing Mem7er Account and +ntermediary Account are transitory accounts# The securities in these accounts are held for commercial purpose only# A &learing Mem7er Account is opened 7y a 7roker or a &learing Mem7er for the purpose of settlement of trades# An +ntermediary Account can opened 7y a $0B+ registered intermediary for the purpose of stock lending and 7orrowing#
*etails to 7e pro4ided 7y the client to its *P while opening the account 1for all types of account2 ,ame of the holder *ate of 7irth 1for indi4idual accounts2 %ccupation Address E phoneBfa: num7er Bank details like name of 7ank3 type of account 1currentBsa4ings23 account num7er3 Branch address3 M+&.3 etc# PA, num7er3 if applica7le *etails of nomination $pecimen signatures C0".! L&#, + r A.. 2', O6"'&'( Proof of +dentity: ApplicantKs signature E photograph to 7e authenticated 7y an e:isting Account holder or 7y applicantKs 7ank or due 4erification to 7e made with the original of Passport3 4oter +*3 dri4ing license or PA, card with photograph#
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1# Proof of Address: &ertified copies of ration cardB passportB 4oter +*B PA, cardB dri4ing )icense B 7ank pass7ook# # 0nsure that all compulsory fields in the account opening form are filled 1e:cept PA,B -+. E nomination which are optional2# ># +n case of corporate3 ensure a copy of Board resolution of authori9ed signatories# 0nsure proper authori9ation in case of power of attorney holder# A# *P should gi4e a copy of agreement to the client3 including the charges# 5# +nform clients regarding standing instruction facility# "# Branches of *P to coCordinate E follow up with (ead %ffice for account opening# G# 0nsure account is acti4ated 7efore forwarding &lient +* to client# @# +nform settlement deadlines to clients#
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%ne of the lesserCknown 7ut widely e:perienced pro7lems of dealing in securities is with regard to their transmission# The &ompanies Act distinguishes transmission of shares from transfer of shares# 6hile transfer of shares relates to a 4oluntary act of the shareholder3 transmission is 7rought a7out 7y operation of law# The word QtransmissionQ means de4olution of title to shares3 for e:ample3 de4olution 7y death3 succession3 inheritance3 7ankruptcy 3marriage3 etc# the person on whom the shares de4ol4e has to pro4e his entitlement 7y su7mitting appropriate documents and seek transmission# +f the securities are held in the depository system3 documents ha4e to 7e su7mitted to the *P# +f the securities are held in physical form3 the documents ha4e to 7e sent to the company for effecting transmission# +f the deceased shareholder had holdings in se4eral companies3 to effect transmission of share certificates3 the rele4ant
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documents must 7e sent to each of the companies3 along with the share certificates# $ur4i4ors ha4e to followCup each of the companies in order to get the transmission affected 7efore the 7ook closure3 if they wish to a4ail of the 7enefits accruing through such shares# +n the depository system3 such pro7lems are mitigated as the securities are held as account 7alances in the electronic form# The process of transmission through ,$*) is simple as well as =uicker 7ecause the successor to the title interacts only with one entity3 his *P# Transactions can 7e for sole holding cases as well as for joint holdings#
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1# The sur4i4ing holder1s2B legal heir1s2B representati4e1s2 to ha4e account with *P # All sur4i4ing holder1s2 B legal heir1s2B representati4e1s2 to sign transmission instruction ># +n case of joint holdings3 transmission instruction to 7e accompanied with notari9ed death certificate# A# +n case of single holdings3 additional documents are re=uired 1list pro4ided in check list2# 5# +n case of singly held securities 1market# 4alue of which is R 1 lac per account23 if a# rele4ant documents mentioned a7o4e are not a4aila7le3 re=uest can 7e e:ecuted 7# pro4ided certain conditions are met c# copy of notari9ed death certificate d# letter of indemnity supported 7y guarantee of independent e# surety made on nonCjudicial stamp paper f# an affida4it made on nonC judicial paper g# no o7jection certificate from all legal heir1s2 Lerify signature
'ousali +nstitute of Management $tudies3 *harwad Page ,o >>
D")%,"r&%$&8%,& '
%ne of the methods for pre4enting all the pro7lems that occur with physical securities is through demateriali9ation 1*emat2# The share certificates are shredded 1i#e#3 its paper form is destroyed2 and a corresponding credit entry of the num7er of securities 1written on the certificates2 is made in the account opened with the *epository Participant 1*P2#Title to the securities owned is in terms of num7er of securities and not in terms of distincti4e num7ers3 certificates num7ers etc# 0ach security is identified in the depository system 7y +$+, and short name# /or e:ample3 a person owning 1!! shares in AB& )td# in physical form will record his ownership as 7elow: &ompany ,ame: AB& )td# ,o# of $hares: 1!! *istincti4e ,os#: ?> "5AG!1 to ?> "5A@!! &ertificate ,o#: AB&!!1 "> /olio ,o#: A"5@5A In NSDL depository system, the record of ownership will be shown as: +,0!!1A!1!1> AB& 7y *emat 1!! S,"6# &' 1")%,"r&%$&8%,& ' + #0%r"# $(A.0(%)*0.$
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1/or demateriali9ation2
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+$$I0. &%MPA,HB.ETA 1+n G days2 +$$I0. &%MPA,+0$ 4erifies records and authorities
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Authori9ing demateriali9ation of in4estors physical holdings and adjustment of Physical holding ,$*) and will add *emateriali9ed holding to
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S,"6# &' 1")%,"r&%$&8%,& ' + #0%r"#: 1# &lientB +n4estor su7mit the *./ 1*emat .e=uest /orm2 and physical certificates to *P# *P checks whether the securities are a4aila7le for *emat# &lient defaces the certificate 7y stamping T$urrendered for *emateriali9ation5# *P punches two holes on the name of the company and draws two parallel lines across the face of the certificate# # *P enters the *emat re=uest in his system to 7e sent to ,$*)# *P dispatches the physical certificates along with the *./ to the .ET Agent# ># ,$*) records the details of the electronic re=uest in the system and forwards the re=uest to the .ET Agent#
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.ET Agent3 on recei4ing the physical documents and the electronic re=uest3 4erifies and checks them# %nce the .ET Agent is satisfied3 demateriali9ation of the concerned securities is electronically confirmed to ,$*)#
5# ,$*) credits the demateriali9ed securities to the 7eneficiary account of the in4estor and intimates the *P electronically# The *P issues a statement of transaction to the client
D"*, I'#,r2)"',# > G 4"r')"', S".2r&,&"#: The +nterestC7earing securities are called de7t instruments# *epending on features like issuer3 tenure3 interest rate3 etc#3 de7t instruments can 7e classified into different categories like 7onds3 de7entures3 commercial paper3 go4ernment securities3 treasury 7ills3 etc# These are further classified 7roadly into su7ordinate 7onds3 floating rate 7ondBde7enture3 deep discount 7ond3 securedBunsecured de7entures3 9ero coupon 7onds3 4aria7le coupon rate 7ond3 etc# 6hile financial institutions or corporate 7odies issue 7onds3 de7entures and commercial paper3 go4ernment securities and treasury 7ills are issued 7y go4ernments C $tate or &entral# The features associated with a de7t instrument differentiate it from other de7t instruments# These include couponBinterest rate3 redemptionBmaturity date secured or unsecured putBcall option 1if any2# An issuer may issue multiple de7t instruments 7y 4arying the features of the instruments# Any type of de7t instrument can 7e admitted in the ,$*) depository system# +nstruments like 7onds3 de7entures3 commercial paper3 certificates of deposit3 etc#3 irrespecti4e whether they are listedBunlistedBpri4ately placed or e4en issued to a single holder3 can 7e demateriali9ed S%)6$" + 60-#&.%$ #".2r&,&"# *"&'( 1"+%."1 %'1 )%r!"1 ?#2rr"'1"r"1 + r
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C0".!$&#, + r &'4"#, r# 6hile filling up the demateriali9ation re=uest form3 in4estors need to check: 1# The *./ has to 7e o7tained only from the *P with whom they ha4e opened an account# # The *./ has to 7e filled in duplicateBtriplicate as re=uired 7y the *P# ># All the information asked in the form is mandatory and has to 7e filled# A# $eparate forms should 7e filled for separate +$+, num7ers of the company# 5# $eparate forms should 7e filled for lockCin and free securities# "# All the holders should sign the *./ form# $ignatures should match with those of the specimens on the account opening form# (owe4er if the signature with the companyB .ET Agent is different from the signature with the *P3 the client may affi: 7oth signatures# G# The order of the holders should 7e same as that in the account opening form# @# 6hile su7mitting the shares they should 7e defaced 7y mentioning on it Qsurrendered for demateriali9ationQ#
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?# After su7mitting the certificates3 an acknowledgement slip duly signed 7y the *P should 7e collected# 1!# *emat re=uest form for demateriali9ing go4ernment securities is different and is called Q*./ C -$Q#
C0".!$&#, + r DP Before accepting the form and share certificates for demateriali9ation the *P $hould check: 1# &lient has su7mitted the securities for demateriali9ation along with the *emateriali9ation .e=uest form 1*./2# # ,o demateriali9ation re=uest3 other than one from a registered holder of securities3 has 7een entertained# ># The certificates su7mitted 7y the client for demateriali9ation 7elong to the eligi7le list of securities admitted 7y the *epository# A# Lerify that the *./ su7mitted 7y the client has 7een filled completely and duly signed# The *P has to issue to the client an acknowledgement slip duly signed and stamped# 5# Lerify the signature of the client on the form and compare it with the specimen a4aila7le in its records# +f the signatures are different3 the *P has to ensure proper identification of the client# "# ,$*) issues circulars on caution to 7e e:ercised in respect of shares 7elonging to some companies# $uch circulars should 7e referred to 7efore accepting a *emat re=uest# +f the form is in order3 the re=uest details are entered in its *PM and the *PM generates a *emateriali9ation .e=uest ,um7er 1*.,2# G# The *., so generated are entered in the space pro4ided for the purpose in the *./# The details gi4en in the *./ should match with the details of reports generated 7y *PM and 4erified 7y a person other than the person who had entered the data# 'ousali +nstitute of Management $tudies3 *harwad Page ,o >@
@# The *./ is forwarded to the issuer or its .ET Agent only after ascertaining that the num7er of certificates anne:ed with the *./ tallies with the num7er of certificates mentioned on the *./3 within G days of its receipt# ?# The details of the certificates su7mitted for demateriali9ation with the details filled up are in consonance with the *./# 1!# The client has marked the certificates su7mitted for demateriali9ation with the word Qsurrendered for *emateriali9ationQ# 11# The safety and security of the certificates su7mitted for demateriali9ation till the certificates were forwarded to the +ssuer or its .ET Agent has to 7e ensured# 1 # Punch two holes on the company name on the security certificates 7efore forwarding them to the issuer or its .ET Agent# 1># 0nsure that the client has filled in a separate *./ for securities ha4ing distinct +$+,s# 1A# 0nsure that the client for has filled in a separate *./ for locked in and free securities ha4ing the same +$+,# 15# 0nsure that the client has su7mitted a separate *./ for each of hisBtheir accounts maintained with the *P# 1"# *./ and certificates ha4e to 7e sent to the correct address of the company where they are accepted# ,$*) issues circulars gi4ing information a7out the addresses where physical documents will 7e accepted#
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.ematerialisation is the e:act re4erse of demateriali9ation# +t refers to the process of issuing physical securities in place of the securities held electronically in 7ookCentry form with a depository# Inder this process3 the depository account of a 7eneficial owner is de7ited for the securities sought to 7e reCmateriali9ed and physical certificates for the e=ui4alent num7er of securities isBare issued# A 7eneficial owner holding securities with a depository has a right to get his electronic holding con4erted into physical holding at any time# The 7eneficial owner desiring to recei4e physical security certificates in place of the 'ousali +nstitute of Management $tudies3 *harwad Page ,o >?
electronic holding should make a re=uest to the issuer or its .ET Agent through his *P in the prescri7ed reCmateriali9ation re=uest form 1../2# Prerequisite to a Re-materialization Request 1# The 7eneficial owners of the securities should make the re=uest# # There should 7e sufficient free 7alance of securities a4aila7le in the 7eneficiary account to honor the reCmateriali9ation re=uest. R"AM%,"r&%$&8%,& ' Pr ."## 1# The *P should pro4ide reCmateriali9ation re=uest forms 1../2 to clients# # The client should complete ../ in all respects and su7mit it to the *P# ># +f ../ is not found in order3 the *P should return the ../ to the client for rectification# A# +f ../ is found in order the *P should accept ../ and issue an acknowledgement to the client# 5# *P should enter the reCmateriali9ation re=uest in *PM# *PM will generate a remat re=uest num7er 1..,2 which should 7e mentioned on ../# "# An authori9ed person3 other than one who entered the ../ details in *PM3 should 4erify the details of .., and release a re=uest to the depository# G# The *P should complete the authori9ation of ../ and forward it to the issuer or its .ET Agent for reCmateriali9ation# The *P should forward ../ to the issuer or its .ET Agent within se4en days of accepting it from the client# @# The issuer or its .ET Agent should 4erify the ../ for 4alidity3 completeness and ?# &orrectness# +t should also match the details with the intimation recei4ed from the 1!# depository against the same .., 11# +n case the issuer or its .ET Agent finds ../ in order3 it should confirm the remat re=uest The issuer or its .ET Agent should then proceed to issue the physical security certificates and dispatch them to the 7eneficial owner# 1 # The *P3 on recei4ing confirmation of de7it entry in *PM3 should inform the client accordingly#
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The entire process takes a ma:imum of >! days# TRADING AND SETTLEMENT %ne of the 7asic ser4ices pro4ided 7y ,$*) is to facilitate transfer of securities from one account to another at the instruction of the account holder# +n ,$*) depository system 7oth transferor and transferee ha4e to gi4e instructions to its depository participants N*PsO for deli4ering Ntransferring outO and recei4ing of securities# (owe4er3 transferee can gi4e K$tanding +nstructionsK N$+O to its *P for recei4ing in securities# +f $+ is not gi4en3 transferee has to gi4e separate instructions each time securities ha4e to 7e recei4ed# Transfer of securities from one account to another may 7e done for any of the following purposes: a# Transfer due to a transaction done on a person to person 7asis is called KoffCmarketK Transaction# 7# Transfer arising out of a transaction done on a stock e:change# c# Transfer arising out of transmission and account closure# The *+ for an offCmarket trade or for a market trade has to 7e clearly indicated in the form 7y Marking appropriately# The form should 7e complete in all respects# All the holder1s2 the Account has to sign the form# +f the de7it has to 7e effected on a particular date in future3 Account holder may mention such date in the space pro4ided for Ke:ecution dateK in the form
S",,$")"', + ++AM%r!", ,r%'#%.,& '
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S,"6# &' #",,$")"', + ++A)%r!", ,r%'#%.,& ' $eller gi4es deli4ery instructions to his *P to mo4e securities from his account to the 7uyerKs account# Buyer automatically recei4es the credit of the securities into his account on the 7asis of standing instruction for credits# Buyer recei4es credit of securities into his account only if he gi4es receipt instructions3 if standing instructions ha4e not 7een gi4en# *P needs to 7e e:tra careful in 4erifying the signature of the client if unusual =uantities of securities are 7eing de7ited to the account /unds mo4e from 7uyer to seller outside the ,$*) system#
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A market trade is one that is settled through participation of a &learing &orporation# +n the depository en4ironment3 the securities mo4e through account transfer# %nce the trade is e:ecuted 7y the 7roker on the stock e:change3 the seller gi4es deli4ery instructions to his *P to transfer securities to his 7rokerKs account# The 7roker has to then complete the payCin 7efore the deadline prescri7ed 7y the stock e:change# The 7roker remo4es securities from his account to &&B&( of the stock e:change concerned3 7efore the deadline gi4en 7y the stock e:change# The &&B&( gi4es payCout and securities are transferred to the 7uying 7rokerKs account# The 7roker then gi4es deli4ery instructions to his *P to transfer securities to the 7uyerKs account# The mo4ement of funds takes place outside the ,$*) system.
1.
$eller gi4es deli4ery instructions to his *P to mo4e securities from his account to his Broker5s account
# $ecurities are transferred from 7rokerKs account to && on the 7asis of a deli4ery out +nstruction# ># %n payCout3 securities are mo4ed from && to 7uying 7rokerKs account# 'ousali +nstitute of Management $tudies3 *harwad Page ,o A>
A# Buying 7roker gi4es instructions and securities mo4e to the 7uyerKs account.
Transfer of securities towards settlement of transactions done on a stock e:change is called settlement of market transaction# This type of settlement is done 7y transferring securities from a 7eneficiary account to a clearing mem7er account# Brokers of stock e:changes that offer settlement through depository are re=uired to open a Kclearing mem7er accountK# +n addition to the 7rokers3 custodians registered with $0B+ and appro4ed 7y stock e:changes can open a clearing mem7er account# These accounts are popularly known as KBroker settlement accountK# A client who has sold shares will deli4er securities into the settlement account of the 7roker through whom securities were sold#
P$"1(" %'1 H-6 ,0".%,& ' The *epositories Act permits the creation of pledge and hypothecation against securities# $ecurities held in a depository account can 7e pledged or hypothecated against a loan3 credit3 or such other facility a4ailed 7y the 7eneficial owner of such securities# /or this purpose3 7oth the parties to the agreement3 i#e#3 the pledgor and the pledgee must ha4e a 7eneficiary account with ,$*)# (owe4er3 7oth parties need not ha4e their depository account with the same *P# The nature of control on the securities offered as collateral determines whether the transaction is a pledge or hypothecation# +f the lender 1pledgee2 has unilateral right 1without reference to 7orrower2 to appropriate the securities to his account if the 7orrower 1pledgor2 defaults or otherwise3 the transaction is called a pledge#
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P$"1(" + D")%, #0%r"# S,"6#: 1# Agreement is signed 7etween the pledgor and pledgee outside the ,$*) system # Pledgor gi4es a pledge creation re=uest to *P who enters it in the system# ># The re=uest reaches the pledgeeKs *P through the ,$*) system#Pledgee is intimated 7y his *P# A# Pledgee gi4es a pledge creation confirmation to his *P who enters it in the system# 5# $ecurities are transferred from Kfree 7alancesK head to Kpledged 7alancesK head# "# )oan is gi4en 7y pledgee to pledgor outside the ,$*) system.
C0".!$&#, + r 6$"1("B0-6 ,0".%,& ' 6hile processing a pledgeBhypothecation re=uest3 the *P should take care with regard to the following stepsBpoints: 1# 0nsure that the instruction form is su7mitted in duplicate# # %n receipt of instruction for creation of pledge3 check whether there is enough 7alance in pledgor account to effect the creation of pledgeBhypothecation# +f not3 ad4ise the client suita7ly# ># 0nsure that all compulsory fields in the instruction form are entered# A# 0nsure that re=uest for confirmation of pledge is gi4en 7efore the closure date mentioned in the instruction form#
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S, .! L"'1&'( %'1 B rr 9&'( The transactions in4ol4ing lending and 7orrowing of securities are e:ecuted through appro4ed intermediaries duly registered with $0B+ under the $ecurities )ending $cheme3 1??G# $uch an intermediary may deal in the depository system only through a special account 1known as +ntermediary Account2 opened with a *P# An intermediary account may 7e opened with the *Ponly after the intermediary has o7tained $0B+ appro4al and registered itself with $0B+ under the $ecurities )ending $cheme# The intermediary also needs to o7tain an appro4al of ,$*)# D"6 #&, + #".2r&,&"# +r ) $"'1"r , &',"r)"1&%r-
S,"6#: 1# )ender forwards re=uest to his *P# # )enderKs *P electronically communicates re=uest to ,$*)# ># The securities are 7locked in lenderKs account in fa4our of the intermediary# A# ,$*) electronically informs intermediaryKs *P# 5# +ntermediary forwards acceptance re=uest to his *P# "# +ntermediaryKs *P electronically communicates acceptance to ,$*)# G# $ecurities are mo4ed from lenderKs account to intermediaryKs account#
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L"'1&'( + #".2r&,&"# *- &',"r)"1&%r- , B rr 9"r
S,"6#: 1# Borrower forwards re=uest to his *P# # BorrowerKs *P electronically communicates re=uest to ,$*)# ># ,$*) electronically informs intermediaryKs *P# A# +ntermediary forwards acceptance re=uest to his *P# 5# +ntermediaryKs *P electronically communicates acceptance to ,$*)# "# $ecurities are mo4ed from intermediaryKs account to 7orrowerKs account R"6%-)"', + #".2r&,&"# *- B rr 9"r , &',"r)"1&%r1# Borrower forwards repayment re=uest to his *P# # Borrower5s *P electronically communicates re=uest to ,$*)# ># The securities are 7locked in 7orrower5s account in fa4our of the intermediary# A# ,$*) electronically informs intermediary5s *P# 5# +ntermediary forwards acceptance re=uest to his *P# "# +ntermediary5s *P electronically communicates acceptance to ,$*)# G# $ecurities are mo4ed from 7orrower5s account ton +ntermediary5s account# R"6%-)"', + #".2r&,&"# *- &',"r)"1&%r- , $"'1"r 'ousali +nstitute of Management $tudies3 *harwad Page ,o AG
1# +ntermediary forwards repayment re=uires to his *P# # +ntermediary5s *P electronically communicates re=uest to ,$*)# ># $ecurities are 7locked in intermediary5s account in fa4our of the lender# A# ,$*) electronically informs lender5s *P# 5# #)ender forwards acceptance re=uest to his *P# "# )ender5s *P electronically communicates acceptance to ,$*)# G# $ecurities are mo4ed from intermediary5s account to lender5s account# C r6 r%," A.,& '# Benefits accruing to shareholders in the nature of di4idends and 7onus3 etc# are generally referred to as corporate actions in the conte:t of depository operations# &orporate actions are the e4ents which affect the rights3 o7ligations andBor interests of the 7eneficial owners of the securities held in a depository# The most common e:amples are payment of interest3 di4idend3 7onus shares3 rights3 splits3 merger3 redemption3 calling of callCmoney due3 li=uidation etc# /or securities held in a depository3 ,$*) facilitates the implementation of corporate actions# ,$*)Ks 7yeClaws define corporate 7enefits to mean and include any action taken 7y the issuer relating to prescri7ing dates for 7ook closures3 record dates3 dates for redemption or maturity of security3 dates of con4ersion of de7entures3 warrants3 callCmoney dates and such other action from time to time# /rom distri7ution 4iewpoint3 corporate 7enefits may 7e monetary 7enefits3 e#g#3 di4idend and interest3 or nonCmonetary 7enefits3 e#g#3 7onus3 rights shares3 etc# &ash or monetary 7enefits comprise payment of di4idend or interest and are forwarded directly 7y the company or its .ET Agent to the in4estors# +t is the function of the depository to inform the company a7out the names of shareholders who are entitled to those 7enefits#
,onCcash 7enefits include those in which securities are in4ol4ed and no cash is in4ol4ed such as 7onus issues3 offer of shares on right 7asis3 con4ersion of securities3 etc# These
Page ,o A@
Benefits are electronically credited to the 7eneficial ownerKs account through the depository system# The 7eneficial owners are entitled to all the rights and 7enefits and are su7ject to all the )ia7ilities in respect of their securities held 7y a depository# $ince corporate actions affect the 7eneficial owners of the securities3 it is important to determine the actual 7eneficial owner of the securities on the cutCoff date announced 7y the issuer for a specific corporate action# $uch cut off date is called record dateB 7ook closure# ,$*) pro4ides details of the 7eneficial owners on the record dateB 7ook closure to the issuer company or its .ET Agent to ena7le the company to calculate the 7enefits accruing to such holdings# P2*$&. I##2" F%.&$&,- ,0r 2(0 NSDL ,$*) has de4eloped the Pu7lic %ffer Module to facilitate application3 processing and allotment of securities in primary market through ,$*) system# The procedure for pu7lic issue facility through Pu7lic %ffer module is as follows: 1. /or the purpose of pu7lic offer3 ,$*) communicates the Pu7lic %ffer &ontrol +nstruction 1P%2 to all the *Ps# This instruction gi4es the key features of the pu7lic offer like issuer name3 open date3 closure date3 etc# ,$*) allots a uni=ue identification num7er to the P%# After the P% is recei4ed3 *Ps capture the details of the application forms in *PM pro4ided the application date entered in *PM falls 7etween the date of opening and &losure date# The system will allow the *P to 4erify and release the instructions only After the 7eginning of day process 1B%*2 of the offer open date# 2. The in4estor shall fill up the application form 1including the *PC+* and &lientC+*2 and $u7mit the same along with the payment instrument to the *P# 3. The *Ps shall capture the following details of the application in the P% module of *PM and release the same to ,$*): &lientC+* +ssue ,um7er# Application /orm ,um7er# Application *ate Page ,o A?
Payment Payment Mode +nstrument ,um7er .e=uested 8uantity for the +$+, Application Amount +nternal .eference ,um7er# Bank *etails 1By default3 7ank details pro4ided 7y the client at the time of Account %pening is automatically copied here#2
! The *Ps
shall 4erify the application form and deposit the same along with the payment
+nstrument with any of the collecting instruments are deposited with the 7ank 7efore the end of 7anking hours of the offer closure date# The *Ps are ad4ised to take due care and ensure that the applications are deposited 7anks# The *Ps shall ensure that all the applications Along Kwith the payment in time with the collecting 7anks as the *Ps will 7e .esponsi7le if the applications are not deposited in time#
"!
*Ps can capture3 4erify and release the data into *PM system till the end of day
process 10%*2 of the third day after the offer closure date# (owe4er3 the *Ps must ensure that the applications are deposited with the collecting 7anks 7efore the end of 7anking hours of offer closure date# *Ps will also print the Pu7lic %ffer BankerKs .eport from *PM system and gi4e it to the collecting 7ank along with the applications#
#!
The *P3 after depositing the application form with the collecting 7ank3 has to o7tain After the allotment is completed3 *Ps recei4e the allotmentBrefund information through
the acknowledgement of the collecting 7ank and pro4ide it to the client#

$.
,$*) *PM system# The accounts of all the successful allotters will 7e credited on the B%* of the allotment date.
%!
The allotment ad4iceBrefund warrants are sent to the applicants directly 7y
+ssuersBregistrar
Page ,o 5!
A$$ ,)"', + S0%r"# &' D")%, F r) 9&,0 NSDL

An applicant
has the option to seek allotment of e=uity shares in electronic or
Physical mode# 1# An applicant wishing to apply for shares in electronic form must ha4e at least one 7eneficiary account with any of the *P of ,$*) prior to making the application# # An applicant seeking allotment of shares in the electronic form must necessarily fill in the details 1including the 7eneficiary account num7er and *PKs +* num7er2 appearing in the application form under the heading K.e=uest for shares in electronic formK# ># $hares allotted to an applicant in the electronic form are credited directly to the respecti4e 7eneficiary account 1with the *P2# A# /or su7scription in electronic form3 names on the application form should 7e identical to those appearing in the account with the *P# +n case of joint holders3 the names should 7e in the same se=uence as they appear in the account with the *P# 5# +f incompleteBincorrect details are gi4en under the heading K.e=uest for shares in electronic formK in the application form3 the application will 7e deemed to 7e for shares in physical form "# The applicant is responsi7le for the correctness of hisBher demographic details gi4en in the application form 4isCUC4is those with hisBher *P# G# $hares in electronic form can 7e traded only on stock e:changes which ha4e electronic connecti4ity with ,$*)# A detailed3 reconciled statements and customi9ed reports are made a4aila7le to clients periodically or as and when re=uired 7y clients /ollowing information is pro4ided:
Page ,o 51
1# Transaction cum 7illing and holding statement if there has 7een a transaction in the Account# 6eekly for traders Monthly for others # The transaction cum 7illing and holding statement will ha4e the following details *etails of transfers e:ecuted &onfirmation of demateriali9ation Brematerli9ation .ejection of decarteli9ation Brematerli9ation Mo4ement of securities on account of pledge creation or closure or in4ocation +nformation of allotment in case of primary market issues 8uarterly holdings statements in case of no transaction
Page ,o 5
C. CUSTOMER SATISFACTION:
6e assert that the 7uyers form a judgement of 4alue and acts in it# 6hether the 7uyer is satisfied after purchase depends upon the offers performance in relation to the 7uyer5s e:pectation# The satisfaction le4el is a function of the difference 7etween percei4ed performance and e:pectations #a customer could e:perience one of three 7road le4els of satisfaction +f the performance falls short of e:pectations 3the customer is dissatisfied +f the performance matches e:pectations3 the customer satisfied# +f the performance e:ceeds e:pectations3 the customer is highly satisfied#
The present study on ;customer satisfaction on products and ser4ice of $(&+)< At Bangalore3 J#&# .oad Bangalore and all its 7ranches at# Malleswaram Jaynagar 'orma gala
Page ,o 5>
1# H0A. %/ 0FP0.+0,&0 A$ A $(&+) &I$T%M0.:
)ess than 1 year to 5 years More than 5 years
" 5> A1
60 50 40 30 20 10 0 less than 1 year 2 to 5 year more than 5 year Series2 Series1
$(&+) is an old and first depository participant ser4ing Bangalore city# $ince last two years3 in4estors had shown interest in $(&+) and most of the respondent had 7ecome customers for the stock holding corporation of +ndia#
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# $%I.&0$ %/ +,/%.MAT+%, /riends Brelati4es Brokers Media %thers >> AA @ 15
45 40 35 30 25 20 15 10 5 0 1 2 3 4 5 Series3 Series2 Series1
Brokers are playing a 4ital role in pro4iding information a7out *P# More than A!M of customers had informed that 7rokers ha4e suggested the name of $(&+) as a *P# Media as a source of information is not playing any role in Bangalore city#
># M0*+IM %/ T.A,$A&T+%,#
Page ,o 55
Lisit to office Telephone +nternet
G> G !
80 70 60 50 40 30 20 10 0 visit to office telephone internet Series2 Series1
Most of the in4estors 4isit $(&+) to do transaction not a single respondent is in4ol4ed in internet trading the reason for the same lack of +nternet Trading and also telephonic is not popular among in4estors# #
A# &I$T%M0.$ P%$0$$ A&&%I,T 6+T( $(&+)
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%ne Two More than two
5G >" G
60 50 40 30 20 10 0 one tw o more than tw o Series2 Series1
More than >5M customer is ha4ing more than one *P account in $(&+) they are ha4e joint account with there family mem7ers# The clients which are open account they are old customers to $(&+)#
5# $(&+) *0MAT &(A.-0$ +$ .0A$%,AB)0
Page ,o 5G
Hes $atisfactory ,o
>! AA "
45 40 35 30 25 20 15 10 5 0 yes satisfactory no Series1 Series2
Most of the customers are satisfied with the *emat charges charged 7y the $(&+)3 7ut still more than 5M are not satisfied with tariff charged 7y the $(&+) compare to %ther *P5s#
"# &I$T%M0.$ A.0 ALA+)+,- T(0 /%))%6+,- T(0 $(&+) P.%*I&T$ Add shares 1! Page ,o 5@
0=ui 7uy +nsurance Pension fund /und in4estment -o4ernment 7onds $tock direct
A > 1 11 1? A
20 18 16 14 12 10 8 6 4 2 0 a shares e!"i#"y ins"rance pension f"n f"n investment $oi #on s stoc% irect
Series2 Series1
Most of the customers are not a4ailing the products of $(&+)3 e:cept -o4ernment 7ondsE fund in4estment# These are playing 4ital role in the products of the $(&+)#
G #I$A-0 A,* P0./%.MA,&0 %/ T(0 $(&+) P.%*I&T$ P.%*I&T$ Add shares 0=ui 7uy (ighly satisfied A A satisfied " a4erage ! ! ,ot satisfied ! ! ,ot at all satisfied ! !
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+nsurance Pension fund /und in4estment -%+ 7onds $tock direct
! 1 5 ?
! A 5 1
! !
! ! ! ! !
! ! ! ! !
10 8 6 4 2 0 a shares e!"i #"y ins"rance pension f"n f"n investment $oi #on s stoc% irect
& satisfie satisfie avera$e '.satisfie ' At all
Most of the customers are interested in -o4ernment 7onds and fund in4estment products 7ecause they getting good returns on in4estment3 usage of pension fund is doing not well most of the customers are shows dissatisfaction#
@# &I$T%M0. A6A.0,0$$ AB%IT $(&+) B.%'+,- $0.L+&0
Hes ,o
5 G5
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80 70 60 50 40 30 20 10 0 yes no Series1
$(&+) has started recently3 the new 7roking ser4ice in Bangalore 7ut the out of 1!! customers only 5M of customers are aware a7out the new ser4ice#
?# %L0.A)) P0./%.MA,&0 %/ $(&+)3 BA,-A)%.0: +tems $afety Esecurity Tariff speed Eaccuracy .elia7ility (ighly satisfied >@ 1! 1" >@ $atisfied 5A > "A A@ A4erage ,ot satisfied @ @ 1 1A > ! 1 " 5 ,ot at all
satisfied
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Personali9ed ser4ice
>!
AG
70 60 50 40 30 20 10 0 safety sec"rity tariff spee relia#ility personalie (acc"racy service
&satisfie satisfie avera$e 'satisfie ' AT satisfie
&ustomers are trusted the $(&+)5s speed3 accuracy and secured ser4ice# But most of the customers are shown dissatisfaction towards tariffs charged 7y the $(&+)#
1!# &I$T%M0.$ .0&%MM0,* $(&+)5s *P T% %T(0. &I$T%M0.$
Hes ,o
@5 15
Page ,o "
1 00 Series1 50
0 yes no
0:isting &ustomers are ready to influence the new customers to a4ail the ser4ice in $(&+) in %ut of 1!! e:isting customers 15 M are not ready to influence the customer#
D. FINDINGS OF THE PROJECT:

Based on the interaction with the clients3 officers of the $(&+) and o7ser4ations3 sur4ey3 data analysis3 interpretation the following findings are noted 7elow# $(&+) charged more tariffs on *P ser4ice compared with others# Most of the e:isting customers are not a4ailing the it5s other ser4ices#
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$(&+) has started recently its new 7roking ser4ice in Bangalore 7ut most of the customers are not aware a7out the $(&+)# The sur4ey indicates that >5M of e:isting clients are ha4ing more than two accounts in $(&+)# More than A!M of its customers are influenced 7y the 7rokers to open an account 7ut the role of the media is not satisfactory# The clients who a4ailing the products of $(&+) are highly satisfied with the performance and usage# $(&+) is an +ndia5s largest and oldest *P ser4ice in +ndia and it is known for customer friendly and free from any misappropriations and scandals3 recently $0B+ has warned some *P ser4ices for in4ol4ing in illegal acti4ities# $(&+) recei4ed no action letter from securities e:change commission 1$0&2 of I$A3 which renders it is an eligi7le institution to hold assets of I$ 7ased funds#
SUGGETIONS:
Although $(&+) reached stature of 7eing the largest depository participant in +ndia and it could impro4e in the following things# $(&+) could rethink of its tariffs 7ecause it is comparati4ely high compares to its competitors#
Page ,o "A
$(&+) could ad4ertise its products and other new ser4ices to create awareness
$(&+) should interact with clients e4ery si: months or e4ery year regarding new de4elopments in the market and awareness a7out the new ser4ice etc##3
The front office employees are the key# They are should 7e well trained and highly =ualified to maintain good relationship with the customers 7y pro4iding ade=uate information a7out their =ueries#
$(&+) should pu7lish Monthly chronicle to pro4ide the market information to the clients#
$(&+) new 7roking ser4ice should maintain low 7rokerage ser4ice compared to competitors
Page ,o "5
Page ,o ""

Depository Participant &amp; Customer Satisfaction With Schil

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Depository Participant &amp; Customer Satisfaction With Schil

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1.

OBJECTIVES OF THE PROJECT

'ousali +nstitute of Management $tudies3 *harwad

'ousali +nstitute of Management $tudies3 *harwad

2. SCOPE OF THE STUDY:

3. LIMITATIONS OF THE STUDY:

'ousali +nstitute of Management $tudies3 *harwad

'ousali +nstitute of Management $tudies3 *harwad

'ousali +nstitute of Management $tudies3 *harwad

'ousali +nstitute of Management $tudies3 *harwad

'ousali +nstitute of Management $tudies3 *harwad

At present in +ndia there are two depositories

'ousali +nstitute of Management $tudies3 *harwad

'ousali +nstitute of Management $tudies3 *harwad

$tock lending and 7orrowing facilities /ees $tructure of ,$*)

NSDL charges to DPs not investors directly.

CDSL 5C"',r%$ D"6 #&, r- S"r4&." L&)&,"17:

'ousali +nstitute of Management $tudies3 *harwad

'ousali +nstitute of Management $tudies3 *harwad

'ousali +nstitute of Management $tudies3 *harwad

*a4angere -ul7arga (u7li Mangalore My sore $himoga Idupi

'ousali +nstitute of Management $tudies3 *harwad

Transfer due to a transaction done on a person to person 7asis is called KoffCmarketK

'ousali +nstitute of Management $tudies3 *harwad

'ousali +nstitute of Management $tudies3 *harwad

PRODUCTS AND SERVICE OF SHCIL:

'ousali +nstitute of Management $tudies3 *harwad

'ousali +nstitute of Management $tudies3 *harwad

'ousali +nstitute of Management $tudies3 *harwad

'ousali +nstitute of Management $tudies3 *harwad

'omal jee4an Jee4an kishore plan Jee4an chayya plan 1!>

'ousali +nstitute of Management $tudies3 *harwad

'ousali +nstitute of Management $tudies3 *harwad

'ousali +nstitute of Management $tudies3 *harwad

'ousali +nstitute of Management $tudies3 *harwad

'ousali +nstitute of Management $tudies3 *harwad

'ousali +nstitute of Management $tudies3 *harwad

I'#,&,2,& '%$ DP #"r4&.":

D&%(r%))%,&. r"6r"#"',%,& ' + ,-6"# + %.. 2',#

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Tr%'#)&##& ' > N )&'%,& '

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%P0,$ A&&%I,T &)+0,T ,IMB0.

*0P%$+T%.H PA.T+&+PA,T *0MAT0.+A)+$AT+%, .08I0$

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*./S $(A.0 &0.T+/+&AT0

B0,0/+&+A) %6,0.5$ A&&%I,T$

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'ousali +nstitute of Management $tudies3 *harwad

S",,$")"', + ++AM%r!", ,r%'#%.,& '

'ousali +nstitute of Management $tudies3 *harwad

'ousali +nstitute of Management $tudies3 *harwad

'ousali +nstitute of Management $tudies3 *harwad

'ousali +nstitute of Management $tudies3 *harwad

'ousali +nstitute of Management $tudies3 *harwad

L"'1&'( + #".2r&,&"# *- &',"r)"1&%r- , B rr 9"r

'ousali +nstitute of Management $tudies3 *harwad

'ousali +nstitute of Management $tudies3 *harwad

the acknowledgement of the collecting 7ank and pro4ide it to the client#

The allotment ad4iceBrefund warrants are sent to the applicants directly 7y

'ousali +nstitute of Management $tudies3 *harwad

A$$ ,)"', + S0%r"# &' D")%, F r) 9&,0 NSDL

Depository Participant & Customer Satisfaction With Schil

Depository Participant & Customer Satisfaction With Schil

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