Demat Service (Depository)
BANK provides depository services as a Depository Participant of NSDL. NSDL - India's first depository. You can avail all the Depository-related services by just opening a Demat account with NSDL through BANK.
With a wide range of depository-related services, BANK Demat Account makes it extremely convenient to manage securities, shares and transactions.
KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (Broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
Please submit copy of Aadhaar Card to the nearest DP servicing branch duly signed by holder(s) with a request on a plain paper, mentioning DP ID and Client ID (Demat account number), to update your Demat account with Aadhaar.
As part of Go-Green initiative, kindly update email ids, mobile numbers, bank account details in your demat account so as to receive all communication/ dividend, interest, redemption payment electronically with SMS alerts.
FEATURES & BENEFITS OF A DEMAT ACCOUNT
As opposed to the earlier form of dealing in physical certificates with delays in transaction, holding and trading in Demat form has the following benefits:
Account Maintenance & Safe custody: Facilitates Maintaining Security Balance in electronic form
Dematerialisation: Facilitates converting physical share certificate into electronic balances.
Rematerialisation: Facilitates converting the electronic balances to physical (share certificate) form.
Account Transfers: Facilitates delivery/receipt of electronic balances consequent to off-market / market trades.
Initial Public offer: Facilitates faster and direct credit of security balances into DP account on allotment through public issue of companies
Disbursement of corporate benefits: Facilitates faster and direct credit of security balance into DP account on account of non-monetary corporate benefits as bonus and rights issues.
• This is with reference to the notification and press release issued by the Ministry of Finance, Government of India & the Reserve Bank of India respectively, informing banks about Bank holidays on the Second and Fourth Saturday of the month. In view of this, as our Bank will not be working on the Second and Fourth Saturday of the month, Depository services will not be available to the Demat customers on these days.
• While care has been exercised by The Mehsana Urban Co-Operative Bank Ltd. (DP) compiling Price / NAV / Face Value file, The Mehsana Urban Co-Operative Bank Ltd. does not warrant completeness or accuracy of information and disclaims all liabilities, losses and damages arising out of use of this information. For any specific/latest information, you may contact the respective Stock Exchange / Mutual Fund / Commodity Exchange.
• If the DIS booklet is lost / stolen / not traceable by the account holder, the same must be intimated to the DP immediately by the account holder in writing.
• Account holders are requested not to leave "blank or signed" DIS with the Depository Participants (DPs) or any other person/entity.
• Instructions with same day execution date will be accepted at client's risk and responsibility without liability / claim on the bank.
• Please strike-off the blank column which are not applicable on all the demat delivery instruction slips.
• Customers are required to submit the Delivery Instruction Slip (DIS) for an "Off Market" Transaction along with the following details;
Reason / Purpose of the Off Market Transaction
Consideration Amount (if any) Paid / Received.
• In terms of SEBI Circular No. SEBI/MRD/DEP/Cir-2/06 dated January 19, 2006 (www.sebi.gov.in), in respect of companies issuing shares by way of Initial Public Offer (IPO), the concerned ISIN under which the shares would be credited will be suspended at the time of crediting the shares (during the pre-listing period) and shall be activated only on the date of commencement of trading on the stock exchanges.
• SEBI has commenced processing of investor grievances in a centralized web-based SEBI complaints redressal system, 'SCORES'. The investor grievances received by SEBI against DPs will be taken up electronically with the concerned Depositories through SCORES (https://scores.gov.in/Admin). The Depositories shall, in turn, take up the matter with the concerned DPs. This circular is available on SEBI website at www.sebi.gov.in under the categories "Legal Framework" and "Circulars".
• Clearing Members are required to transfer Open Ended Mutual Fund units subscribed through the 'Order Entry Platform' of the Stock Exchanges within 1 working day after the pay-out.
• For the benefit of Demat customers a separate email ID:'firstname.lastname@example.org' has been created for the purpose of addressing Queries, Feedback, Information, Suggestions etc. and the email ID:'email@example.com' would be exclusively used for addressing Complaints / Grievances.
• In case of no debit transactions carried out in the demat account for a continuous period of 6 months, then such accounts are treated as 'Dormant'. The account holder of such dormant accounts are advised to visit the branch personally for submitting the instructions for transfer of securities. If instruction is submitted through bearer, then please contact the branch where instructions are submitted to provide your confirmation of the transaction from your Demat Account.
• No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorize your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account.