Towards making Indian Securities Market - Transparent, Efficient, & Investor friendly by providing safe, reliable, transparent and trusted record keeping platform for investors to hold and transfer securities in dematerialized form.
3. Details of business transacted by the Depository and Depository Participant (DP)
A Depository is an organization which holds securities of investors in electronic form. Depositories provide services to various market participants - Exchanges, Clearing Corporations, Depository Participants (DPs), Issuers and Investors in both primary as well as secondary markets. The depository carries out its activities through its agents which are known as Depository Participants (DP). Details available in the link https://nsdl.co.in/dpsch.php
4. Description of services provided by the Depository through Depository Participants (DP) to investors
||Brief about the Activity / Service
||Expected Timelines for processing by the DP after receipt of proper documents
||Dematerialization of securities
||Rematerialization of securities
||Mutual Fund Conversion / Destatementization
||Re-conversion / Restatementisation of Mutual fund units
||Transmission of securities
||Registering pledge request
||Closure of demat account
||Depositories to accept physical DIS for pay-in of securities upto 4 p.m. and DIS in electronic form upto 6 p.m. on T+1 day
(2) Depositories provide special services like pledge, hypothecation, internet based services etc. in addition to their core services and these include
5. Details of Grievance Redressal Mechanism
||Investor Complaint/ Grievances
Investor can lodge complaint/ grievance against the Depository/DP in the following ways:
The complaints/ grievances lodged directly with the Depository shall be resolved within 30 days.
- Electronic mode -
- SCORES (a web based centralized grievance redressal system of SEBI) [https://www.scores.gov.in/scores/Welcome.html]
- Respective Depository’s web portal dedicated for the filing of compliant [https://www.epass.nsdl.com/complaints/websitecomplaints.aspx]
- Emails to designated email IDs of Depository email@example.com
||Investor Grievance Redressal Committee of Depository
||If no amicable resolution is arrived, then the Investor has the option to refer the complaint/ grievance to the Grievance Redressal Committee (GRC) of the Depository. Upon receipt of reference, the GRC will endeavor to resolve the complaint/ grievance by hearing the parties, and examining the necessary information and documents.
||The Investor may also avail the arbitration mechanism set out in the Byelaws and Business Rules/Operating Instructions of the Depository in relation to any grievance, or dispute relating to depository services. The arbitration reference shall be concluded by way of issue of an arbitral award within 4 months from the date of appointment of arbitrator(s).
6. Guidance pertaining to special circumstances related to market activities: Termination of the Depository Participant