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| DEPOSITORY
SYSTEM |
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Bank works as a Depository Participant
of National Securities Depository Limited
(NSDL) since last Eight years.
Broad details about Demat services and
salient features of Demat Scheme are mentioned
hereunder.
The
concept of Depository
The Government of India enacted the Depositories
Act in August 1996, thus pioneering the
concept, of Depositories and entering
the age of paperless settlement of securities.
NSDL was inaugurated as the first depository
in India on November 8, 1996, which is
promoted, by IDBI, UTI, SBI and NSE to
provide electronic depository facilities
for securities traded in equity and debt
markets. Depository is an institution
that dematerialize your shares in the
electronic form. It is as good as if your
shares are deposited in the Bank. In a
bank, you can keep your money safely.
Similarly, you can keep your shares of
different companies in your demat account.
We, as Depository Participant will work
as NSDL's agent. Individuals, FIIs, HUF
and corporate can open an account with
the DP.
Benefits
of Depository System |
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The demat shares will be no more
in the paper form.
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No transfer deed form is required
for demat shares. So, bad deliveries,
and all risks associated with physical
certificates, such as loss, theft,
fake certificate, postage delay
etc. is eliminated as in the system
as physical securities are converted
into electronic book entries.
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Reduction
in handling huge volumes of paper
for Brokers, Custodian, Stock Exchanges,
Banks, etc.
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There is no stamp duty on transfer
of shares.
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Assume that you have ten different
company’s shares. If you change
your residence / bank account, then
you have to inform ten different
company registrars. On can think
of the time consumption for the
same. But if you have demat account,
you just have to inform a DP and
DP will do the necessary work with
all registrars.
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Settlement of trade is faster and
free of problems thus enabling a higher
frequency of portfolio turnover.
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Faster disbursement of Corporate benefits
like Rights, Bonus, etc.
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| PROCESS
OF OPENING AN ACCOUNT |
- Please
obtain an account opening form from any of
our branches and fill up the same.
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Please write your full name of all the holders
while opening an account.
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You have to open an account with the same
holding pattern and sequence as in on your
physical shares.
- Kindly
submit us –
• An account opening form duly filled
up.
• Necessary introduction of a person
acceptable to the bank.
• Per account holder – 2 photographs.
• PAN Card
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| Proof
of Identity
and Address |
Proof
of Identity
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Proof
of residence |
Passport
Election ID Card
Driving Licence
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Introduction
of a person
Photo Credit Card;
Pan Card
Election Card
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Bank
Passbook
Electricity Bill
Telephone Bill
Ration Card
IT Returns
Municipal Tax Bill |
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- All
other formalities as required for opening
the account
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| RATES |
| SCHEDULE
"A"
Effect from 1st February, 2005 |
| SERVICES
PROVIDED |
CHARGES |
Form
Fee and agreement along with stamp
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Rs.122/-* |
Annual
Maintenance Charges
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Rs.250/-* |
Dematerialization
Charges
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Rs.3
per certificate
(Min.Rs.25) |
Rematerialization
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0.03%
of value of Sec.
(Min.Rs.15) |
Transaction
Fee - For Market / Off-market for sell
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0.02%
of the value of Tra. (Min.Rs.15) |
Pledge
/Hypothecation Charges
Please creation, confirmation, invocation
and closure
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0.02%
of the value of Tra. (Min.Rs.35) |
Notes:
Applicable Service Tax will be levied.
Saving account should be opened with
any of our branches.
Demat charges can be debited to any
of your account with any bank through
ECS.
Bills outstanding for more than 30
days, interest @ 2% will be charged.
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| BRANCHES |
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DEMAT FACILITY is Available
here.............. |
Maskati
Market : |
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Manilal
mensions,
Opp. Railway Station
Railwaypura,
Ahmedabad – 380002
Ph: 22138011-12, 22138015
Fax - 22138014
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New Cloth Market
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Nutan
New Cloth Market,
O/s. Raipur Gate,
Ahmedabad. 380 002.
Ph : 22142839, 22146316
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Rakhial
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Vora
Chambers,
Rakhial Char Rasta,
Ahmedabad
Ph: 22748642
Fax - 22742452
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Panjarapole
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17 & 18, Kamdhenu Comm. Centre,
Opp: Sahajanand College,
Panjarapole,
Ahmedabad – 380015
Ph: 26302109, 26307986
Fax -26300665
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Jodhpur-Satellite
Road : |
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129,
Vrundavan Bungalows – 1 ,
132 Feet Ring Road,
Satellite Road,
Ahmedabad – 380015
Ph: 26779694
Fax - 26779385
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Law Garden : |
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First
floor,
Opp: Samartheshwar Mahadev,
Nr. Law Garden, Ellisbridge,
Ahmedabad – 380006.
Ph : 26443714, 26444558
Fax- 26445229
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Isanpur : |
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Bhavna
Flat,
Nr. Ishanpur Bus Stand,
Ishanpur,
Ahmedabad – 382443
Ph: 25735945
Fax - 25734414
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Naranpura
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Nr.
Patrakar Colony,
Vijaynagar Corner,
Naranpura,
Ahmedabad- 380 013
Ph: 27431043
Fax - 27431190
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