Depository Services
A depository refers to any organization where the stocks are held in electronic or dematerialized (demat) form, e.g. CDSL and NSDL. Meanwhile, a Depository Participant (DP) is one that holds an investor's records in a demat form. Securities purchased are credited and the securities sold are debited in your demat account /beneficiary owner account, by the DP. All the information regarding the holding of your stock is maintained by the DP. Sykes & Ray Equities is registered as a Depository Participant with the Central Depository Services Ltd (CDSL).
At SRE, clients are offered the dual benefit of trading and having a depository service under one roof and experience an efficient, risk-free and prompt depository service. Under Power of Attorney (POA) the investor can choose to opt for the automated Settlement of securities which is a very convenient part of our services. The free SMS is sent by CDSL for each instruction to registered mobile of account holder for monitoring of all transactions.
An investor can open a demat account with SRE and can utilize the services offered by CDSL. The KYC is common for all the services provided by SRE in capital market. While the DP processes the instructions and keeps a record of transactions of the investor, the demat account holdings thereof, is maintained with CDSL. SRE is thus a "Point of Service" for the investor.
The investor can view and track his transaction round the clock through internet without any charge with valuation based on previous day’s market price.
With a view to achieve wider financial inclusion, SRE encourages holding of demat accounts and to reduce the cost of maintaining securities in demat accounts for small retail individual investors, SRE also offers a "Basic Services Demat Account" (BSDA facility) with limited services and reduced costs.
SEBI vide its circular no. CIR/MRD/DP/22/2012 dated 27/08/2012 has made regulation for “Basic Services Demat Account (BSDA) facility” with limited services on nil or nominal Annual Maintenance Charge. The detail can also be had at SEBI web site or click here for the link to the circular. SRE is pleased to offer BSDA facility. Click here to Download the Form, Format of Declaration, Eligibility criteria and Tariff Charges .Please e-mail to dp@sre.co.in or call at 022-22797300, for any further information or clarification.
The SRE India Advantage
- Automated pay-in facility including early pay-in
- Anytime, Anywhere information access
- Quarterly demat statements with valuation
- Availability of Demat A/C statement online
- Free SMS alert for all transaction and corporate actions
Who can open a Demat account?
- Any individual, HUF, trust or corporate can open a demat account.
- A demat account can be opened in joint names but maximum 3 persons.
- Minor can also open demat account in single name to be operated by guardian.
- Dematerialization of shares can be done in the account of same combination of persons, however, sequence of names can be transposed with transposition form.
- Even though a Power of Attorney holder cannot open a demat account, it is permissible to be operated by both the client and the POA holder.
The categories of accounts that can be opened under an individual demat account are Ordinary Resident, Hindu United Family (HUF), Non Resident Indian – Repatriable (NRE), Non Resident Indian- Non Repatriable (NRO), Margin, Promoter, Others
Why SRE?
- No risk of loss, wrong transfer, mutilation or theft of share certificates.
- Hassle free automated pay-in of your sell obligation with no need for physical instruction.
- Reduced paper work.
- Speedy settlement process of your securities.
- Instant disbursement of non-cash benefits like Bonus and Rights.
- Efficient pledge mechanism.
- Personalized services of trained Help desk.
- No charges for extra Transaction statement and Holding statement.
- Combined monthly 'Bill-cum-Transaction-cum-Holding-cum-Ledger' statement of your investments.
Documents required for opening a Demat Account:
The documents required for opening a demat account is PAN Card, Voter's ID Card, Applicant's Passport, Ration Card, Driver's License, Photo Credit Card, Employees ID Card, Bank Attestation, IT Returns, Electricity/ Landline Phone Bills, a signed passport size photograph etc. PAN card is a must for opening a demat account.
So, if you wish to open an account with Sykes & Ray Equities, get in touch with us today.