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Core Services
Core Services
CONTENTS Volume 3
Core Services
Chapter 1 - 2 Chapter 3 - 7 Chapter 8 Chapter 9 Chapter 10 Chapter 11 : Volume 1 : Volume 2 : Account Opening .............................................................................. 1 : Transmission and Nomination ........................................................ 45 : Dematerialisation ............................................................................. 62 : Trading and Settlement ................................................................... 84
Chapter 12 - 17 : Volume 4
CHAPTER 8
Account Opening
Any investor who wishes to avail depository services must first open an account with a depository participant of NSDL. The process of opening a demat account is very similar to a bank account. The investor can open an account with any depository participant of NSDL. An investor may open an account with several DPs or he may open several accounts with a single DP. There are several DPs offering various depository-related services. Each DP is free to fix its own fee structure. Investors have the freedom to choose a DP based on criteria like convenience, comfort, service levels, safety, reputation and charges. After exercising this choice, the investor has to enter into an agreement with the DP. The form and contents of this agreement are specified by the Business Rules of NSDL. In this chapter we deal with the procedure for account opening under the NSDL system.
Types of Accounts
Type of depository account depends on the operations to be performed. There are three types of demat accounts which can be opened with a depository participant viz. (a) Beneficiary Account (b) Clearing Member Account and (c) Intermediary Account. Figure 6
Types of Accounts
Intermediary Account
House
Non-House