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Demat

 
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Ashmit
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PostPosted: Sat Feb 10, 2007 11:09 am    Post subject: Demat Reply with quote
What is a DP and Demat account where can I open this type of account ??
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Ideas
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Joined: 05 Feb 2007
Posts: 80
PostPosted: Sat Feb 10, 2007 11:11 am    Post subject: Depositary Reply with quote
A depository or ( DP ) can be compared to a bank. It holds securities such as shares, debentures, bonds, government securities, units etc. of investors in electronic form. There are two depositories in India, The National Securities Depository Limited (NSDL) and Central Depository Services Limited (CDSL). An individual who desires to avail the depository services can approach a Depository Participant (DP). Banks, financial institutions, custodians, brokers or any other entity eligible as per SEBI (Depositories and Participants) Regulations, 1996 can apply to the Depository to become a Depository Participant. As on 31st December, 2005 there were 221 Depository Participants in India.
Geojit, is a depository participant of NSDL. Investors can open demat accounts with NSDL through Geojit.One can approach the nearest branch of Geojit for opening an account. Agreement charges (statutory charges) along with Annual Maintenance Charge (AMC) are collected upfront while opening an account. It takes two to three days to open a demat account. Upon activation of the demat account, a Welcome Letter is sent to the you along with the Delivery Instruction Slip book.
And for more information visit this site.
https://nsdl.co.in/
Their branch adress can be located from their website
http://www.geojit.com/services/branches.asp?index=0&a=7

Last edited by Ideas on Thu Feb 22, 2007 9:25 pm; edited 1 time in total
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