Bank works as a Depository Participant of National Securities Depository Limited (NSDL) since last Fifteen 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

  • The demat shares will be no more in the paper form.
  • 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.
  • Nomination facility is also available for Demat shares.
  • Reduction in handling huge volumes of paper for Brokers, Custodian, Stock Exchanges, Banks, etc.
  • There is no stamp duty on transfer of shares.
    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. One 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..
  • Settlement of trade is faster and free of problems thus enabling a higher frequency of portfolio turnover
  • Faster disbursement of Corporate benefits like Rights, Bonus, etc.
  • The problem of odd lot is totally eliminated as the market lot for transaction in Depository mode has been fixed as one share.
    Periodic status reports to investors on their holdings, transactions, and even valuation of portfolio leading to better controls.


  • Please obtain an account opening form from any of our branches and fill up the same.
  • Please write your full name of all the holders while opening an account.
  • 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 - 3 photographs
    • PAN Card

Proof of Identity(POI) (copy of any one proof) :

Passport, Voter ID Card Driving License
PAN Card with photograph  

Identity card/document with applicant's Photo,issued by

  • Aadhar Card
  • Central/State Government and its Departments
  • Statutory/Regulatory Authorities
  • Public Sector Undertakings
  • Scheduled Commercial Banks
  • Public Financial Institutions
  • Colleges affiliated to Universities (this can be treated as valid only till the time the applicant is a student)
  • Professional Bodies such as ICAI, ICWAI, ICSI, Bar Council etc, to their members; and
  • Credit cards/Debit cards issued by Banks.

Proof of Address (POA) (copy of any one proof) :

Ration Card Passport
Voter ID Card Driving License
Bank Passbook Verified copies of Electricity bills (not more than two months old)/ Residence Telephone bills (not more than two months old)/ Leave and License agreement / Agreement for sale.

Self-declaration by High Court & Supreme Court judges, giving the new address in respect of their own accounts.


Rate As Per Annexure

 Inclusive all taxes

To register complaint kindly send email to


Applicable Taxes 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.

Branches with Demat Facility