A depository holds shares and securities in electronic form in your name, just as a bank holds your deposits in your account. Besides holding securities, a depository also provides services related to your transactions in securities. Two Depositories have been approved to operate in India that is . Central Depository Services (India) Ltd. (CDSL) and National Securities Depository Ltd. (NSDL)
Central Depository Services (India) Ltd., (CDSL) :
It has received approval from SEBI in February 1999. It is promoted by The Stock Exchange, Mumbai (BSE) jointly with leading banks such as State Bank of India, Bank of India, Bank of Baroda, HDFC Bank, Standard Chartered Bank, Union Bank of India and Centurion Bank. CDSL commenced its operations from July 1999. It has depository participants (like agents called branches) throughout India.
Hem Securities Ltd.,(HSL) as Depository Participant (DP) of CDSL:
Hem Securities Ltd., has got the approval from CDSL and SEBI authorities under the Depositories and Participants Regulations Act of 1996 in 2000 for our two main D.P. offices at Mumbai and Jaipur . All other Business Outlets our connected through DP Back office for quicker execution of DP instructions.
We have, so far, opened around 1 lakh Demat accounts in which very sizeable amount of shares/securities are held by our investing and trading clients. In a span of about 15 years, we have been successful in opening so many accounts due to our best of services as D.P. to our clients. We charge a very competitive fee to our clients in respect to our services.
Hem Securities Limited is in the growth mode, we are likely to open more branches to reach out to many more people .
We offer following services as D.P.
- Opening of Demat account
- Maintaining record of holdings in electronic form
- Settlement of trades by delivering/ receiving underlying securities
- Settlement of off-market trades
- Providing electronic credit in respect of securities allotted under IPO
- Receiving non-cash corporate benefits, such as, allotment of bonus and rights shares, stock split, etc
- Pledging/Un-pledging of securities
- Providing periodical statement of transactions
- Registering nomination
As our depository clients (BOs), you can submit debit/credit transaction instructions to effect off-market, on-market, inter-depository and early pay-in transactions. You can also view your holdings, value of your holdings ( based on previous day’s closing price on BSE ).
You can obtain
- Transactions details for preceding seven days and
- Print-out of statement of your account.