Demat Services by Banks

UNIVERSITY OF MUMBAI
2017-2018
“PROJECT REPORT ON”

DEMAT SERVICES BY BANKS
SUBMITTED BY
HARSH M. RADIA
ROLL NO. 3545
SUBMITTED
IN PARTIAL FULFILMENT OF THE REQUIREMENTS
FOR THE AWARD OF DEGREE OF
T.Y BBI (BANKING & INSURANCE)
SEMESTER V
PROJECT GUIDANCE
PROF. DIVYA KANCHAN
SADHANA EDUCATION SOCIETY’S

L.S. RAHEJA COLLEGE OF ARTS AND COMMERCE
JUHU ROAD, SANTACRUZ (WEST),
MUMBAI- 400054
UNIVERSITY OF MUMBAI
2017-2018
“PROJECT REPORT ON”

BACHELOR OF COMMERCE
BANKING & INSURANCE
SEMESTER V
UNDER THE GUIDANCE OF

PROF. DIVYA KANCHAN
SUBMITTED
IN PARTIAL FULFILMENT OF THE REQUIREMENTS
FOR THE AWARD OF DEGREE OF
BACHELOR OF COMMERCE –BANKING & INSURANCE
SUBMITTED BY
HARSH M. RADIA
ROLL NO. 3545
SADHANA EDUCATION SOCIETY’S

L.S. RAHEJA COLLEGE OF ARTS AND COMMERCE
JUHU ROAD, SANTACRUZ (WEST),
MUMBAI- 400054
DECLARATION
I, HARSH M. RADIA, the student of B. Com Banking & Insurance Semester

V (2017-2018) hereby declare that I have completed the Project on “DEMAT
SERVICES BY BANKS”.
The information submitted is true and original to the best of my knowledge.
___________________
HARSH M. RADIA
Roll No. 3545
CERTIFICATE
This is to certify that Shri / Miss HARSH M. RADIA, Roll No. 3545 of B.
Com Banking & Insurance Semester V (2017-2018) has successfully completed
the project on “DEMAT SERVICES BY BANKS” under the guidance of
Prof. DIVYA KANCHAN.
_______________________ _______________________
Prof. Dhara Vora Dr. Debajit N. Sarkar
(Course Co-ordinator) (Principal)
_______________________ ___________________
Prof. Divya Kanchan (External Examiner)
(Project Guide/Internal Examiner)
College Seal
ACKNOWLEDGEMENT
The satisfaction and euphoria that accompanies the successful completion of

any task would be incomplete without mentioning the names of people who
made it possible, whose constant guidance and encouragement crown all the
efforts with success.
I am most thankful to my internal guide, Prof. Divya Kanchan for introducing

me to such a wonderful and challenging topic because of which I learnt a lot in
detail and for being my guide in the true sense of the word and for guiding,
correcting and motivating me at each and every moment during my project. I
also value her generosity.
I would also like to thank Prof. Dhara Vora, our coordinator to whom we shall
forever remain indebted for setting the foundation for this course and for
assisting in the project whenever help was required.
Last but not the least, I thank my friends, who helped directly or indirectly in
completing the project that will go a long way in my career, the project is really
knowledgeable & memorable one.
EXECUTIVE SUMMARY
Objective:
My prime objective is to know various kinds of policies covered under insurance
sector in India and its continuous development since then.
Sub-objective:
To view the establishment of the insurance system in India and also the development after
Globalization, Liberalization and privatization.
Methodology: Data
Books- BRITANNICA ENCYCLOPEDIA, India, Ireland
Newspaper- The Economic Times; Times of India
Findings:
Studying the fundamentals of general insurance policies of miscellaneous concept in Indian
scenario and challenges at world leveraging in insurance sector, as a platform of sharing high
risk also principles of general insurance plays an important role in determining underwriting
contract.
Learning:
Miscellaneous contract based on certain principles of insurance, which should be, consider
while dealing with miscellaneous contract. Also found system of underwriting gives a risk
management tools by parting with their risk handed.
TABLE OF CONTENTS
No Content Page no
1. Introduction Demat Services by Banks 1
2. NSDL AND CDSL 3
3. Benefits of Demat Services 7
4. Dematerialization Process and Procedure 10
5. Demat Services Provided by ICICI Bank 17
6. Corporate Benefit 35
7. Redressal of Demat Holders 51
8. Frequently Asked Questions 52
9. Survey Report 54
10. Conclusion 56
11. References 57
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CHAPTER 1.
INTRODUCTION OF DEMAT SERVICES BY
BANK
Dematerialization or ‘DEMAT’ in short, is the process by which the

physical share certificates (share certificate in paper form) are converted
to an equivalent number of securities in electronic form. The situation is
somewhat similar to replacing paper money with an electronic bank
account. Conversion of physical certificates to electronic form benefits
investors immensely. Dematting of shares eliminates risks associated
with bad deliveries, postal delays, handling problems, loss in transit,
forgery, counterfeiting, loss due to fire, theft, mutilation, etc. Investors
also do not have to pay stamp duty on transfers of shares and they can be
transferred instantaneously. Also, brokers charge a lower brokerage fee
for selling dematerialized share since the risk of bad delivery is
minimized. Investors also receive other benefits such as bonus and rights
directly credited to their accounts, thus reducing a great deal of paper
work and associated delays. Lastly, the difficulty and disadvantage of
trading odd lot shares is also eliminated, as the market lot for
dematerialized is just one share!
What is Dematerialization?
Dematerialization or “Demat” is a process whereby your securities like

shares, debentures etc., are converted into electronic data and stored in
computers by a Depository.
What is a Depository?
Depository functions like a securities bank, where the dematerialized

physical securities are traded and held in custody. This facilitates faster
and low-cost settlement. Depository is much like a bank and performs
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many activities that are similar to a bank. Following table compares the
two.
Bank Depository
Holds funds in accounts Holds securities in account
Transfers funds between accounts Transfers securities between accounts
Transfers without handling money Transfers without handling securities
Safekeeping of money Safekeeping of securities
Dematerialization or demat is a process to convert the

securities held in physical form into an electronic record form or to
directly allot securities in electronic record form. These electronic records
of securities are shown as "electronic balances" in the demat account of
investors. Any investor (Beneficial Owner or BO) can open a demat
account through a depository participant (DP). DP provides a link on one
hand between the BO, Company and CDSL and on the other hand
between the BO, the BO's broker and the Stock Exchange. CDSL
publishes from time to time an updated list of DPs’ registered with it.
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CHAPTER 2.
NSDL AND CDSL
At present there are two depositories in India, National Securities

Depository Limited (NSDL) and Central Depository Services Limited
(CDSL). NSDL is the first Indian depository; it was inaugurated in
November 1996. NSDL was set up with an initial capital of US$28mn,
promoted by Industrial Development Bank of India (IDBI), Unit Trust of
India (UTI) and National Stock Exchange of India Ltd. (NSEIL). Later,
State Bank of India (SBI) also became a shareholder.
The other depository is Central Depository Services (CDS). It is still in

the process of linking with the stock exchanges. It has registered around
20 DPs and has signed up with 40 companies. It had received a certificate
of commencement of business from SEBI on February 8, 1999. In order
to facilitate transfers between investors having accounts in the two
existing depositories in the country the Securities and Exchange Board of
India has asked all stock exchanges to link up with the depositories. The
NSDL and CDS have signed an agreement for inter-depository
connectivity.
What is a DP?
NSDL carries out its activities through various functionaries called

business partners who include Depository Participants (DPs)
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Who can be a DP?
 Public Financial Institutions.

 Scheduled banks.
 RBI Approved Foreign banks operating in India.
 State financial corporations.
 Institutions engaged in providing financial services, promoted by any
of the institutions mentioned above either jointly or severally.
 Custodians of securities who are registered with SEBI.
 Clearing Corporations or Clearing Houses of Stock Exchanges.
 Stock Brokers registered with SEBI.
 Non-Banking Finance Companies.
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Investors surrenders defaced certificate along with Dematerialisation
Request Form (DRF) to his DP.
1. DP intimates Depository of the request through the system.

2. DP submits the certificate with DRF to registrar.
3. Registrar confirms the Demat from Depository.
4. Registrar validates the request, updates records & informs the
Depository.
5. Depository credits the DP a/c & informs DP.
6. DP updates the investor’s a/c & informs the investor.
Trading in dematerialized shares results in substantial savings for the

investors.
Following tables gives an idea about these savings.

Savings for a person who buy shares for long term
investment
(On a purchase of Rs10000)
Item Physica Depository Savin

l (Rs) (demat) (RS) gs
(Rs)
Brokerage 75-100 50-75 25-50
*Stamp Duty 50 - 50
Postal Charges 10-30 - 10-30
Company Objection 10-30 - 10-30
(Courier etc.)
Settlement charges - 5-10 -(5-10)
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#Custody (5 years) - 10-50 -(10-
50)
Total 35-100
 Stamp duty of 0.5%

 Custody charge of 0.05%- 0.1%
Savings for an investor who sells dematerialized shares

(For a sale of Rs10000)
Item Physica Depository Savin

l (Rs) (demat) (Rs) gs
(Rs)
*Brokerage 75-100 50-75 25-50
Company Objection 10-30 - 10-30
(courier, etc.)
Settlement charges - -(5-10) -(5-10)
Total 25-75
Sub-Brokers:
Sub-Brokers have two options:
1. Arrange to deliver the securities directly from the pool account of main
broker to the beneficial owner account of the buying clients.
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2. Arrange to deliver the securities from the pool account of the main
broker to beneficial owner account of the sub-broker kept for trading
purpose and then forward the same to buying client.
CM POOL A/C
Client A A/c
Client B A/c
Client C A/c
Client D A/c
Sub Broker’s Beneficiary A/c
CHAPTER 3.
BENEFITS OF DEMAT SERVICES
 A safe, convenient way to hold securities;

 Immediate transfer of securities;
 Reduction in paperwork involved in transfer of securities;
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 No stamp duty on transfer of securities;
 Reduction in other transaction cost such as postage, courier, Xerox;
delivery, fake securities, delays, thefts, etc.;
 No odd lot problem, even one share can be sold;
 Nomination facility;
 Change in address recorded with DP gets registered with all
companies in which investor holds securities electronically. The
investor did not correspond with each company separately.
 Transmission of securities is done by DP eliminating correspondence
with company
 Automatic credit into demat account when new share is issued on
account of bonus, split consolidation, merger etc.
 Investors can even freeze or lock their accounts for any given period
of time, if so desired. Account can be frozen for debits or for credits
or for both.
Why Should an Investor Open a Demat Account?

The CDSL system incorporates a number of distinct features which
provide BO’s a convenient, dependable and secure depository services at
affordable cost.
A. Convenience:
1. Wide DP Network: CDSL has over 275 DPs offering services

from over 100 cities/towns across the country and thus providing
investors a wide choice for selecting a DP, depending on his
locational and other conveniences. Many more DPs are expected to
get registered with CDSL shortly.
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2. On-line DP Services: CDSL DPs provide on-line depository
services from over 500 branches. All these branches are electronically
connected to CDSL thereby taking the depository services to the
door-step of investors. DP branches facilitate quicker execution of
demat instructions.
3. Availability of Wide Spectrum of Securities: The equity

shares of over 5000 companies are available for dematerialisation on
CDSL. CDSL extends demat facilities practically for all categories of
securities which include bonds, debentures, commercial papers,
government securities and certificates of deposit.
4. Competitive Fees Structure: CDSL's fee is very reasonable and

competitive, which makes it possible for DPs to offer demat services
to investors at affordable cost. CDSL DPs are not required to pay any
custody or ISIN fees to CDSL.
5. Internet Access: Through CDSL's unique internet facility

"electronic access to securities information" -. "Easi", a BO by
registering himself through his DP (who in turn will have to be
registered with CDSL for use of this facility) can know and even print
statements of his demat account. The BO can also know the status of
his previous 7 days transactions at any time by logging into easi. BO
gets a unique facility of knowing the daily valuation of the securities
held in their demat account, at the previous day's closing price on the
BSE.
B. Dependability:
1. On-line Information to Users: With the CDSL's centralised

database architecture; on-line depository services are available to
BO’s with up-to-the-minute status of his BO accounts.
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2. Safety of data: Even if any system-related problems develop at the
DPs end, it does not affect the BO’s interest in any way as the CDSL
database is maintained centrally. The DP can also avail of the facility
of contingency terminals available at CDSL's Mumbai office for
executing instructions.
3. Audit and inspection: CDSL conducts regular audit of its DPs to

ensure compliance of the stringent operational and regulatory
requirements.
4. Helpdesk: CDSL's prompt and courteous helpline facility is

available to DPs and investors to obtain any clarifications and
guidance.
5. Always meeting user's requirements: Continuous updating

of procedures and processes in tune with the evolving market
practices is another hallmark of the CDSL's system
C. Security:
1. Computer Systems: CDSL has installed state-of-the-art computer

system, data storage devices, communication networks which ensure
the security and integrity of all data uninterruptedly. All data at CDSL
is auto mirrored separately and also transmitted to a Disaster
Recovery Site which is located at a different place away from the
main site.
2. System Access: As the system does not provide for dial-up access,
only authorised users can access CDSL system. In other words, only a
person at DP end who has been pre-authorised by CDSL can access
the CDSL system.
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3. Unique BO Account Number: Each BO in the CDSL system is
allocated a unique account number. This avoids wrong transfer of
securities in the event the transferor's account number is keyed-in
wrongly at the DP end
4. Insurance Cover:
CDSL has obtained adequate insurance cover for any unlikely loss
occurring to a BO due to the negligence at CDSL and/or its DP.
CHAPTER 4.
DEMATERIALIZATION PROCESS AND
PROCEDURE:
Opening a Depository Account.
 Investors, both individuals and non-individuals, have a choice to open

a demat account with any CDSL DP. Individual investors could be
Indian residents or NRIs. Non-individual BO includes Corporates,
FI’s, FII’s, Mutual Funds, Trusts etc. Under two-way fungibility of
ADR/GDR, non-residents can also open a demat account with a
CDSL DP.
 A BO should consider fee structure, locational convenience and the
track record of the DP before selecting a DP for opening his BO
account.
 More than one demat account can be opened in identical names with
the same or different DPs with the same depository and/or with both
the depositories.
 A demat account can be maintained even with 'nil' balance as there is
no requirement of holding any minimum-security balance in a demat
account.
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 If securities are already held in joint names, the demat account should
be opened in the order of names in which the securities are held. If
the securities are held by an individual jointly with different persons,
separate demat accounts will have to be opened for each such
combinations. However, if the same persons hold securities in
different order of their names, one single demat account in names of
all these persons (not exceeding 3 persons) would be sufficient,
provided the facility of transposition-cum-demat is used.
 At the time of opening a demat account or anytime thereafter,
individuals having a BO account in a single or joint name/s, a
nomination can be made. In the unfortunate event of demise of one of
the joint holders, the securities can be transmitted in the names of the
surviving holders. But, in the event of demise of the sole holder or all
the joint holders, the securities can be transmitted in the name of the
nominee. A resident Indian can nominate an NRI or another resident
Indian and similarly an NRI can nominate a resident Indian or another
NRI. Non-individuals including
A. Documents required to be submitted at the time of

opening a CDSL demat account:
1. Individual Investors:
 An application in the prescribed form duly completed.

 Certified copy of an election-ID card / passport / ration card /PAN
card or in the absence of these documents, an introduction by an
existing account holder of the DP giving the introducer's name,
address, and contact number.
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 A certified copy of birth certificate and guardian's name, in case of a
minor.
 A passport size photograph of each of the applicants with his/their
signature/s put across the photograph/s
 In case of any attestation by a Magistrate / Notary Public / Special
Executive Magistrate, the name, address and telephone number of the
Magistrate/Notary Public/Special Executive Magistrate.
 A copy of the power of attorney, if desired. And agreement in the
prescribed form duly executed.
2. Corporate investors:
 An application in the prescribed form duly completed.

 A certified copy of the Memorandum and Articles of Association of
the company.
 A certified true copy of the board resolution authorising opening of
demat account and listing out the names of the officials authorised by
the board to act as authorised signatory(ies)
 Names, designation of the authorised signatories with specimen sign.
 A copy of power of attorney duly executed.
 In case of attestation by any Magistrate/Notary, Public/Special
Executive Magistrate, their name, address and telephone number.
 Agreement in the prescribed form duly executed.
B. Additional Requirements For Some Categories Of

Investors
BO Category Additional Requirement
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Non Resident Indian
In case of a NRI opening BO a/c singly or jointly
nationals or persons with another NRI and/or resident Indian, a
declaration by the first or sole NRI applicant who
of Indian origin(NRI)
is eligible to invest on repatriable basis in terms
of FEMA notification no. 20/2000-RB dated
03/05/2002 together with a proof of residence
outside India.
HUF Name of the 'karta', if the account is opened in

the name of a HUF.
Trust A certified copy of the trust deed along with the

list of authorised signatories with specimen
signatures.
Partnership firm The account has to be opened in the names of the

partners.
Proprietorship firm The account should be opened in the name of the

sole proprietor.
Clearing Members (CM) A certified copy of SEBI registration along with a

conduct certificate from each of the exchanges
where the CM is a member/registered.
F. I. Investors and
A Certified copy of SEBI/RBI registration.
Overseas Corporate
Bodies
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C. On Opening of The Demat Account, A DP Would
Provide to The BO A/C Holder the Following:
 A copy of the signed agreement.
 Issues "BO-ID" (i.e. Beneficial Owner Identification Number or.
demat account number). This BO-ID should be quoted in all future
correspondence with the DP, Issuer Companies and/or their Registrar
& Transfer agents or CDSL.
 Pre-printed instruction slips for affecting various types of transactions
viz. form for dematting physical holdings, transaction slips, etc.
CDSL has one single debit instruction slip both for 'on-market' and
'off-market' transactions.
D. BO’s Should Carefully Note the Following:
 BO’s may consider issuing one-time instruction to their DPs for

getting securities in the demat account automatically credited to their
account. Purchased securities are credited to the BO account after
payout of the securities by the clearing house/corporation of the stock
exchange. Securities purchased on any of the stock exchanges
connected to CDSL can be directly received in the BO account.
CDSL currently has connectivity with 16 stock exchanges.
 For sale of securities in demat form, after the broker confirms the
trade, the BO should immediately issue debit instruction to his DP
using a debit instruction slip.
 For maintaining the cut-off time for submitting delivery instructions
for trades done on the stock exchange (on-market trades) as per SEBI
requirement, delivery instructions need to be issued latest by 24 hours
before the pay-in time of the exchange where transaction has been
done. Any delay in issuing instructions to the DP might result in non-
delivery of shares/securities resulting in auctioning of such securities
and consequent loss to the investor. This is more so in T+2 settlement
cycle.
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 Any change in address and/or bank account should be intimated to
DP together with supporting documents as evidence.
 While accepting the Delivery Instruction (DI) slip book issued by the
DP, Bo should ensure that his BO-ID is pre-stamped on all the pages
along with the serial number. The DI book should be kept safely.
BO’s should not issue to anyone blank DI slips duly signed. BO’s
should also strike out the empty space, if any, in the DI slip, before
submitting to DP.
E. Fees:
CDSL does not charge any fee directly to the beneficial account holder
but collects the depository fees for debit and pledge transactions in any
BO account from the concerned DP. The charges indicated by DPs are
generally is inclusive of CDSL fee, if any.
F. Redressal Of Investor Grievances:
In case of any unresolved grievance with your DP, please contact the
compliance officer of your DP or Investor Relations Officer.
G. Disclaimer:
 This brochure contains information, which is subject to change

without prior notice and cannot be the basis for any claims or demand
or cause of action by anyone against CDSL or its DPs.
 CDSL's demat services are extended through its agents called
Depository Participants (DP). The DP is the link between the investor
and CDSL. An investor who opens a demat account with a DP can
utilise the services offered by CDSL. While the DP processes the
instructions of the investor, the account and records thereof is
maintained with CDSL. A DP is thus a "service center" for the
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investor. DSL’s system is based on centralised database architecture
with on-line connectivity with DPs. Because of this centralised
architecture, the cost for setting up a DP outfit under CDSL system is
significantly lower. Similarly, the recurring costs to be incurred by a
CDSL-DP in terms of maintaining back-ups and the related data
storage are minimal. This enables a CDSL-DP to offer depository
services to investors at an attractive price and at the same time
achieve break-even faster at much lower volumes. The centralised
architecture also allows CDSL-DP to make available to the investors
a to-the-minute status of their account and transactions. DSL-DPs can
also set up branches with direct electronic connectivity with CDSL.
 Any Individual eligible to acquire and hold securities in his name can
open a demat account in the CDSL system through a registered DP of
CDSL of his choice. While choosing his DP the individual may take
into consideration the service standards, charges and convenience of
location.
H. Some basic facts for the demat accounts
1. Number of Accounts:
More than one demat accounts can be opened in the similar / identical
name and order with the same DP or different DPs.
2. Minimum Account Balance:

There is no requirement of holding minimum-security balance in a demat
account; you can maintain zero balance in your account. Ready
availability of account enhances your transaction making ability.
3. Nomination:
Individuals holding beneficial accounts on their own behalf either singly
or jointly have the facility of making nomination. (Non-individuals
including societies, trusts, body corporate, partnership firms, kartas of
HUF, holders of power of attorney however, cannot nominate). In the
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event of the death of one of the joint holders, the securities will be
transmitted in the names of the surviving holders. If the sole or all the
joint holders are deceased, the shares will be transmitted in the name of
the nominee.
4. Statement of Account:
A periodical statement of holdings and transactions is provided by DP.
This can also be asked for from the DP.
5. Credit Confirmation:
In order to receive all the credits coming to demat account automatically,
a one-time standing instruction can be given to the DP at the time of
opening your account.
6. Change of Address:
For any change of address, if any, communication to your DP in writing
is sufficient. The DP will ensure that the change is incorporated for all
securities held in your demat account. You need not write to all the
companies separately.
Points to Be Noted for Opening a Demat A/C
 Obtain and submit the duly completed account opening form to the
DP.
 Provide to DP a copy of your passport or driving license or voter-ID
card or ration card for establishing your identity and as a proof of
address.
 Execute the DP-Investor agreement to be made available by DP.
 Collect your unique account number (BO-ID) from your DP.
 Collect pre-printed slips both for effecting dematerialisation as well
as delivery of securities.
 Understand the cut-off timings from DP for depositing delivery
instructions for trades done by you on the stock exchange.
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CHAPTER 5.
DEMAT SERVICES PROVIDED BY ICICI BANK
A Depository is like a bank where securities are held in electronic

(dematerialised) form. In India, there are two Depositories -National
Securities Depositories Limited (NSDL) and Central Depository Services
Limited (CDSL).
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Under the Depositories Act, investors can avail of the services of the
Depositories through Depository Participants (DP) such as ICICI Bank.
DP’s are like bank branches wherein shares in physical form need to be
deposited for converting the same to electronic (demat) form.
ICICI Bank Demat Services boasts of an ever-growing customer base of
over 11.5 lacs account holders. In their continuous endeavor to offer best
of the class services to their customers they offer the following features:
1. E-Instructions:
Customers can transfer securities 24 hours a day, 7 days a week through
Internet & Interactive Voice Response (IVR) at a lower cost. Now with
“Speak to transfer”, customers can also transfer or pledge instructions
through bank’s customer care officer.
2. Consolidation Demat Account:

Dematerialise physical shares in various holding patterns and consolidate
all such scattered holdings into primary demat account at reduced cost.
3. Digitally Signed Statement:

Receive account statement and bill by email.
4. Corporate Benefit Tracking:

Track dividend, interest, bonus through account statement.
5. Mobile Request:
Accesses demat account by sending SMS to enquire about Holdings,
Transactions, Bill & ISIN details.
6. Mobile Alerts:
Receive SMS alerts for all debits/credits as well as for any request which
cannot be processed.
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 Dedicated customer care executives specially trained at call center, to
handle all their queries.
 Countrywide network of over 235 branches, you are never far from an
ICICI Bank Demat Services outlet.
Countrywide network of over 235 branches, you are never far from an
ICICI Bank Demat Services outlet.
Account Opening
 Please write to ICICI Bank or visit any of their service centers to
open an account.
 There is no fee for opening a DP account with ICICI. However, a
nominal fee will be levied towards services, as per their tariff.
Customers can choose between Standard Rate Card or Frequent
Trader Rate Card as per their trading volume. Or if you wish to hold
your Bonds in Demat form you can choose Bond Rate Card.
Account Opening Form to Open Securities Account

 Resident Non-Corporate Account Opening Form
 Resident Corporate Account Opening Form
 NRI Account Opening Form
 Declaration Cum Undertaking Form for NRI Repatriable Account
 Checklist for Filling NRI Demat Account Opening Form
Submission of Passport and Valid Visa Copy is mandatory for NRI
Customers for opening a Depository Participant (DP) Account with effect
from 7th May 2007.
Account Opening Form to open Commodities Account in
NSDL
i) Resident Non-Corporate Account Opening Form

ii) Resident Corporate Account Opening Form
iii) Clearing Member Account Opening Form
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Note: The DP Client Agreement form should be franked with stamp
duty applicable to the state mentioned in the correspondence address. DP
account number will be intimated to customers by e-mail if the mail-id is
written on the application form or by Courier or by post.
Mode of Investment:
1. Portfolio Investment Scheme (PINS)
Portfolio Investment Scheme (PINS) is a scheme of the Reserve Bank of

India (RBI) under which the ‘Non-Resident Indians (NRIs)’ and ‘Person
of Indian Origin (PIOs)’ can purchase and sell shares and convertible
debentures of Indian Companies on a recognized stock exchange in India
by routing all such purchase/sale transactions through their account held
with a Designated Bank Branch. The Designated Bank maintains a record
of all investments done under PINS (PINS portfolio).
2. Non – PINS
 Any investment other than under PINS is Typically, this includes:

 Subscription to Primary market offerings (IPOs)
 Investments made when resident in India.
 Investments in Mutual funds
 Investments in derivatives
 Gifts and Inheritance
Procedure for Demat
Form: Submit a completely filled up Demat Request Form (DRF) in

triplicate for each ISIN along with defaced physical securities. We have
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provided you with one blank Dematerialisation Request Form (DRF).
Additional forms are available at any of the ICICI Bank branches
offering Demat Services.
Filling up the form

Ensure that security mentioned on the certificates is eligible for Demat.
For being eligible for demat, the company has to sign up with NSDL.
You can check eligibility on www.icicibank.com or ask the nearest
Branch.
Use a separate DRF for each security having a unique International
Security Identification Number (ISIN). Verify the certificates carefully
and mention the correct ISIN. In case two or more sets of certificates of
the same security have different ISIN (this is possible in case of partly
paid up shares and non-pari passu shares), use separate DRFs for each
ISIN. However, you can dematerialise multiple folio nos. of the same
pattern of holders relating to the same ISIN under a single DRF.
Submit certificates under lock-in under separate DRF. Do not mix the
same with free securities. In case of locked-in securities, fill up the lock-
in reason & lock-in release date on the DRF. Amongst lock-in securities
belonging to the same ISIN but having different lock-in release dates or
lock-in reason, make separate DRF requests.
Demat requests received from client(s) with name(s) not matching
exactly with the name(s) appearing on the certificates merely on account
of initials not being spelt out fully or put after or prior to the surname, can
be processed. However, this is possible only if the signature(s) of the
client(s) on the DRF tallies with the specimen signature(s) available with
the Issuer or its Registrar. For example, the shareholder may have opened
the depository account in the name of Sushil Ramesh Shah but his name
on the share certificate may appear as S. R. Shah or Sushil R Shah etc.
The combination and the order of holders’ names on DRF and as printed
on the Certificates should be identical with that in the DP account.
Page | 23
For example, if the shares are in the name of X, Y (X as first holder and
Y and second holder) it cannot be dematerialised in the account of either
X or Y alone. Also if the shares are in the name of X, they cannot be
dematerialised in the account of X, Y (X as first holder and Y as second
holder).
However, where the combination of holders is the same in the certificates

and in the demat account, and the difference is only in the order in which
the name of the holders appear on the share certificates and in the demat
account, dematerialisation is possible. Here, you have to submit a
Transposition Request Form along with the DRF. The form is also
available at the nearest Branch.
The DRF must be signed by all the account holders and should be in the
same order. The signature on the DRF should match with the specimen
signature with ICICI Bank. If the signature differs, you should sign the
DRF in the presence of the Branch Officer. If you have a doubt that the
signature on the DRF may not match with that registered with the
Registrar, you can get the signature on the DRF attested by your banker.
The details of certificates such as the folio no., certificate no., &
distinctive no. must be filled up correctly on the DRF.
Submitting the form

You must deface the certificates by putting a stamp or by writing
“Surrendered for Dematerialisation”. However, defacing should be done
only after checking the eligibility of security, as defaced securities cannot
be sold in physical form. If defacing has been done by mistake then you
should send the same to registrar for replacement.
NSDL Business Rule 11.1.7.:

(The Participant shall ensure that the certificates
submitted for dematerialisation are marked by the Client
Page | 24
(customer) with the words “Surrendered for
Dematerialisation”.)
 Certificates should not be mutilated or defaced in such a way that the
material information is not readable.
 Ensure that the certificates are attached in the same order as
mentioned in the DRF.
 You should submit the DRF in triplicate. You can submit the DRF at
any ICICI Bank branch. The acknowledgement slip at the bottom of
the form will be stamped and handed over to you after verification by
the ICICI Bank official.
Credit in the Demat Account
The defaced shares along with the DRF are sent by ICICI Bank to the
registrar who will then credit the customer’s account. The normal time
taken for credit of shares to the account after confirmation by the
Registrar is about 30 days. However, the time taken would vary from one
registrar to another over which ICICI Bank has no control.
To check whether your account has been credited, you can refer to the
transaction statement (Refer # 12, below). The same will be reflected in
pending demat balance on receiving your request. After
dematerialisation, the same will be reflected under free balance.
Alternatively, you can use the web (register on www.icicibank.com),
phone us or visit the ICICI Bank branch. In case your account does not
get credited within a month of submission, you can either phone us or
send an email to customer.care@icicibank.com
In case there is a delay beyond 40 days, if you so wish, ICICI Bank can
give you the registrar’s name and telephone number as well as your
Demat Request Number (DRN).
Rejection of Demat Requests

Page | 25
Your request may get rejected for various reasons either at the Central
Processing Office of ICICI Bank or by the Registrar. Dematerialisation is
done by the Registrar only when it is satisfied of genuineness of
securities & ownership status.
On a rejection, the securities are sent back to you stating the reason for
the rejection.
You can resubmit the certificates for dematerialisation after resolving the
reason for the rejection. Please resubmit on a fresh DRF. Do not use the
same DRF on which the objection was made.
Transmission-cum-Demat
In case of certificates held jointly, on the death of any one or more of the
joint holder(s) mentioned on the certificate, the surviving joint holder(s)
can get the name(s) of the deceased deleted from the physical
certificate(s) and get the securities dematerialised in the DP account of
the surviving holder(s) by submitting the following documents along with
the DRF:
 A copy of the death certificate duly notarised
 A copy of the Succession certificate duly notarised or an order of a
court of competent jurisdiction where the deceased has not left a Will
or
 A copy of the Probate or Letter of Administration duly notarised.
Sale / Delivery of Securities
Securities transactions can be settled in demat form for the transactions

done on stock exchanges connected to NSDL. At present, NSE, BSE,
CSE, DSE, LSE, BgSE, OTCEI, MSE, ISE & ASE are connected to
Page | 26
NSDL. Trading in dematerialised securities is done through your broker
just like trading in physical securities.
Sell dematerialised securities
 You can sell your dematerialised securities in any of the stock

exchanges linked to NSDL through a broker of your choice.
 You need to give a ‘delivery instruction’ to your DP for debit of your
depository account and credit of your broker’s clearing member
account.
 You receive payment from the broker for the sale in the same manner
you would receive payment for a sale in the physical mode.
Buy dematerialised securities
 You can purchase securities in any of the stock exchanges connected

to NSDL through a broker of your choice and make payment to your
broker. Make sure you tell your broker you want only demat shares.
 Broker receives credit in his clearing account with his DP on the day
of payout. He can immediately transfer these securities to your
depository account, provided your account is already active.
 Broker gives instructions to his DP to debit his clearing member
account and credit your depository account.
Delivery of securities
Page | 27
 To deliver securities in electronic form, you have to authorise the DP
to transfer balances from your account.
 You must give a debit authorisation to ICICI Bank in the booklet of
instruction slips provided to you. The slip should be given physically
at the nearest Branch.
 (You can also register for the e-Instruction facility to submit transfer
instructions through Internet / IVR (Interactive Voice Response
System) on Phone and with “Speak to Transfer” through our Phone
Banking Officer )
 In the instruction slip, you have to mention the counter-party account
details. The counter-party account may be within the same DP (Intra-
DP transfers) or with a different DP (Inter-DP transfers) within NSDL
or with another depository - CDSL (Inter Depository Transfers). For
transfers within NSDL, a TIFD (transfer instruction for delivery) is
required. For transfers to a CDSL account, an IDT (inter-depository
transfer instruction) is required.
Getting instruction slips (TIFD/IDT booklets)
 You are provided a “Personalized TIFD booklet” at the time of

opening the account. You will need to use slips from this booklet for
all your transfers.
 For IDT (Inter Depository Transfer slips), request for the same in
writing to the nearest Branch. The request should be signed in
presence of the Branch Officer. Ensure you use slips allotted to your
demat account only as per business rules of NSDL.
 Please do not use someone else’s slip since that will not be accepted
by the system and also cannot be processed as per business rules of
NSDL.
 Please do not give your blank slip to anyone as this may lead to
frauds and associated complications. If you lose your booklet, report
Page | 28
the same in writing (under signature of all account holders) to the
nearest Branch immediately.
 If you are nearing exhaustion of all slips in the booklet, you can
request for reissue of a new booklet by visiting nearest bank branch.
Submit the request on the requisition slip present in your existing
booklet. Where you are unable to present the request on the
requisition slip, you can submit a letter. However, the letter should be
signed in presence of the Branch Officer You can also register for the
Internet Banking and Phone Banking facilities to submit the request
on Internet / Phone.
 The booklet will be couriered to you and will reach you within a
week from the date of submitting the request.
 On receiving your booklet, verify that your DPID, DP Account No.
and name is present on all slips including the Requisition slip.
 In emergencies where you have exhausted your TIFD/IDT booklet
and cannot wait for the time required to fulfill your request for a new
booklet, you can also get TIFD / IDT slips issued across the counter
for emergency use.
 For getting an emergency slip from your branch:
 You have to personally visit your home branch
 You have to request for the slip on the prescribed form available at
the branch.
 TIFD / IDT issued in such a manner are valid only for immediate use.
Filling up an instruction slip (TIFD/IDT)
The request should be filled up in the appropriate slip issued to you. For
transferring securities to an account within NSDL, use TIFD slips. For
transferring securities from an account within NSDL to an account with
CDSL, use IDT slips. There are two common types of accounts within
NSDL - beneficiary accounts (opened by the normal investors) and
clearing member pool accounts (opened by brokers). Accordingly, there
are two types of transfers possible with TIFDs. n instruction for transfer
Page | 29
of security from a Beneficiary Account to a Clearing Member Account
(Broker’s pool account) is termed as a Market TIFD. This is for
delivering securities to the broker for onward delivery to the stock
exchange towards fulfilling settlement obligations in respect of trades
done on a stock exchange (Market Trades).
Details are to be filled up only for Market Trades on a

TIFD slip.
CM-BP-ID:
This is the Clearing Member Business Partner ID of the Broker to whom
the securities are to be transferred. The CM-BP-ID is an 8 character code
starting with ‘IN’ provided by NSDL to the clearing member. You should
find this out from your broker. Any incorrect entry can result in transfers
to the wrong account.
CM Name:
This is the name of the Broker to whom the securities are to be
transferred. This is the market type on which the trade has been done by
your broker. The stock exchange has separate segments for each market
type in which the orders are matched e.g. Rolling, Rolling Odd Lot, etc.
You should confirm this with your broker.
Market Type:
This is the market type on which the trade has been done by your broker.
The stock exchange has separate segments for each market type in which
the orders are matched e.g. Rolling, Rolling Odd Lot, etc. You should
confirm this with your broker
Settlement No:
This is the settlement no. in which the trade has been done by your
broker. This is a 7-character code. Confirm this with your broker.
Page | 30
You should submit the slip latest by 4 p.m. on business day prior to the
execution date. TIFDs received after 4 p.m. will be accepted on ‘Best
Effort’ basis and ICICI Bank does not undertake any liability for its non-
execution. They may also attract a late charge (Please refer the rate card).
In case of market trades, also ensure that the execution date is specified
such that securities are transferred to the pool account before the
exchange pay-in deadline. Strike out the portion relating to Off - Market
Trades.
Details to be filled up only for Off-Market Trades on a

TIFD slip.
DP ID:
This is the Depository Participant ID with whom the target account (the
account to which the securities are to be transferred) is maintained. It is
8-character starting with ‘IN’. You should find this from the target
account holder. Incorrect DP ID may result in transfer of securities to a
wrong account.
DP Name:
This is the name of the Depository Participant with whom the target
account is maintained. You should find this from the target account
holder. Please note that this is not the name of the account holder.
Client ID:
This is the 8-digit account number of the target account. You should find
this from the target account holder. Any incorrect entry can result in
transfers to the wrong account.
Strike out the portion relating to Market Trades
Details to be filled up only in an IDT slip.
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Depository ID: This is the Depository ID for CDSL. It is ‘IN000026’.
Client ID: This is the 16-digit account number of the target account
(the account to which the securities are to be transferred). You should
find this from the target account holder. Any incorrect entry can result in
transfers to the wrong account.
Details to be filled up in both TIFD slips (for both Market

and Off-Market Trades) and IDT slips.
ISIN:
This is the International Security Identification Number (ISIN) of the
security to be transferred. This is a 12-character code starting with ‘IN’.
You should confirm this from your transaction statement and then fill up
the same. You can also check this on www.icicibank.com or from your
nearest Branch or from your Broker. Be careful in specifying the correct
ISIN where a security has multiple ISINs.
Security Name:
This is the name of the security to be transferred.
Quantity:
This is the number of units of securities to be transferred. This is to be
filled up both in figures & in words in the space provided.
Total ISIN to be delivered:

This is the total number of ISINs to be delivered under the particular slip.
Also strike out the rows of ISIN details which are not used to avoid any
tampering.
Execution Date:
Page | 32
This is the date on which the securities are to be transferred from your
account. In case of market trades, you should fill this up in consultation
with your broker. In case the execution date mentioned by you is a NSDL
business holiday, the next working day is taken to be the execution day.
You may issue the instruction well in advance of the date on which you
want the securities to be debited from your account. By giving a future
dated instruction you cover the risk against non-execution of instruction
due to lack of time or last minute rush.
You should submit the slip latest by 4 p.m. on business day prior to the
execution date. TIFDs received after 4 p.m. will be accepted on ‘Best
Effort’ basis and ICICI Bank does not undertake any liability for its non-
execution. They may also attract a late charge (Please refer the rate card).
In case of market trades, also ensure that the execution date is specified
such that securities are transferred to the pool account before the
exchange pay-in deadline.
Signature:
The slip must be signed by all account holders as per the specimen
registered with ICICI Bank. In case of personalised booklets, the names
of all holders are preprinted. Mismatch in signature of even one of the
joint holder’s results in the rejection of the TIFD.
Submitting the form
You can submit the TIFD at any ICICI Bank branch. Take the
acknowledgement copy after stamping by the ICICI Bank official.
You may issue the instruction well in advance of the date on which you
want the securities to be debited from your account. By giving a future
dated instruction, you cover the risk against non-execution of instruction
due to lack of time or last-minute rush. You should submit the slip latest
by 4 p.m. of the business day before the execution date (i.e. there should
be one clear working day gap between the date of submission of the
TIFD and the execution date).
Page | 33
Transfer instructions should not be submitted for execution day as
holiday. If there is a holiday in between, instruction should be submitted
one day in advance.
Submitting TIFD / IDT through Internet
 You have to first register for the e-Instruction facility by filling up the
prescribed form available at the branch. You can specify upto five
accounts to which you can transfer securities through Internet/Phone.
 Login to www.icicibank.com using infinity user id and password
provided to you.
 Click on required Demat account number appearing on “My
Accounts” page of www.icicibank.com
 Holdings of the selected demat account will be displayed on the next
page.
 The next page will display the target accounts linked with demat
account selected in 3.4.3. Select the target account as required by you
and click “GO” button.
 Fill up the execution date, ISIN, Quantity and settlement number (If
required) on the next page and click on button “Submit”.
 Next page will display all the details entered by you till now. Please
check the same and click on “Back” button if you wish to change the
same or on “Confirm” button if you want to proceed.
 A reference number will appear on the next screen, Note the same for
future reference.
Submitting TIFD / IDT through IVR
prescribed form available at the branch. You need to specify upto five
accounts to which you can transfer securities through Internet /
Phone.
Page | 34
 Call up our Phone Banking numbers Select Demat menu from all the
options read by IVR. Get yourself authenticated by entering DPID &
Demat a/c no. with TPIN provided to you.
 Enter your demat account number.
 Select the option to submit transfer instructions from Demat menu.
 Next menu will read all the accounts linked to your Demat Account.
Press 1, 2 or 3 upto 5 select the Target Account Number.
 If counter party selected in step 3.4.6 is a POOL account, the next
menu will read out various market types. Select the appropriate
market type.
 Enter the last 3 digits of settlement number pertaining to that market
type.
 System will ask for execution date. Enter the execution date in the
format dd-mm-yyyy (for example, to enter 5th June, 2003, enter
05062003). System will verify all the details and will proceed to the
next option if punched in details are correct.
 System will directly come to step 3.5.8 from 3.5.4 if counter party
selected is not a pool account (i.e. the transfer is an Off Market for
Inter-Depository Transfer).
 Enter the numeric digits of the ISIN.
 Enter the quantity to be transferred.
 System will read all the details entered by you along with available
quantity make appropriate choice by entering 1, 2, 3 or 4.
Submitting TIFD / IDT through “Speak to Transfer”
prescribed form available at the branch. You need to specify upto five
accounts to which you can transfer your securities through Internet /
Phone.
Page | 35
 Call up our Phone Banking Numbers Select Demat menu from all the
options read by IVR. Get yourself authenticated by entering DPID &
Demat a/c no. with TPIN provided to you.
 Select the option 5 of Speak to Transfer to submit transfer
instructions from Demat menu.
 Our Phone Banking Officer will attend to you and will ask for the
information required for transferring your securities.
 After confirmation from your side, Phone Banking Officer will give
TIFD Reference number for your completed transaction.
Debit in the Demat Account
There will be a debit in your account on the execution date specified in

the instruction. You can check the same in your transaction statement.
You can also check the same on www.icicibank.com or through IVR or
visit the nearest Branch. You will also receive an alert for the
success/failure of the transfer on SMS (registration form for “Mobile
Alerts” on www.icicibank.com
Failure to execute Instructions
An instruction can fail either at the Central Processing Office of ICICI

Bank or at NSDL.
A failure can happen at the Central Processing Office on account of
signature mismatch or if the TIFD slip is incomplete or not properly filled
up. Please take due care while filling up the TIFD. There can be a failure
at NSDL if your account does not have the required number of specified
shares or problem with the target a/c.
You will be intimated about the failure through a letter. On receipt of
such intimation, the customer should do the needful in terms of
submitting a correctly filled TIFD.
Page | 36
Purchase / Receipt of Securities
All purchase/ receipt of securities in your account is effected as per your

‘Standing instructions for Credit’ given to ICICI Bank to receive credits
automatically in your account. You normally give such a standing
instruction in the account opening form itself. You can give it later also
by writing to the DP.
If you have not given a standing instruction for receiving credits, you are
required to give a specific receipt instruction for each credit in the
prescribed form.
The date of credit will depend on your broker’s instructions and ICICI
Bank has no control on the same.
 To ensure proper credit in your account, please instruct your broker to

credit the shares to your account number with ICICI Bank. For this,
give your Demat account number and the ICICI Bank DP ID to the
broker.
 Please note that you must settle your money transaction
independently with the broker.
Rematerialisation
Rematerialisation is the process of converting the securities held in
electronic form in a demat account to an equivalent number of securities
in physical form (certificates) after debiting the same from the demat
account.
Form
Submit a completely filled up Remat Request Form (RRF) in triplicate
for each ISIN. Forms are available at any of the ICICI Bank branches.
Filling up the form

Ensure that the RRF is completely filled up. Incomplete details may lead
to rejection of the remat request.
Page | 37
Use a separate RRF for each eligible security. Please ensure that name of
the security and the ISIN number is entered correctly.
Submit requests for balances under lock-in through a separate RRF. Do
not mix the same with free securities. Amongst lock-in securities
belonging to the same ISIN but having different lock-in release dates or
lock-in reason, make separate RRF requests.
You should mention the lot types whether Jumbo or Market Lot clearly.
If the same is not filled up then the registrar will send certificates in
market lot. You must have sufficient free balance in your account for the
ISIN for which the RRF is submitted.
The RRF must be signed by all the account holders and should be in the
same order. The signature on the RRF should match with the specimen
signature with ICICI Bank.
Submitting the form
You should submit the RRF in triplicate. You can submit the RRF at any
ICICI Bank branch. The acknowledgement slip at the bottom of the form
will be stamped and handed over to you after verification by the ICICI
Bank official.
Receipt of Physical Shares

 The RRF is forwarded to the registrar. On acceptance of the remat
request by the registrar, your account will be debited. The physical
share certificate will be sent directly to you by the registrar. You can
also check the same on www.icicibank.com or through IVR or phone
us or visit the nearest Branch. You will also receive an alert for the
success/failure of your request on SMS (registration form for “Mobile
Alerts” on www.icicibank.com).
 The normal time taken for receipt of the physical shares is within a
period of 30 days. However, the time taken would vary from one
registrar to another over which ICICI Bank has no control.
Page | 38
 In case you do not receive the physical shares within a month of
submission, you can either phone us or send an email to
customer.care@icicibank.com so that we can check with the registrar.
 In case there is a delay beyond 40 days, if you so wish, ICICI Bank
can give you the registrar’s name and telephone number as well as
your Remat Request Number (RRN).
Rejection of Remat Requests

Your request may get rejected for various reasons either at the Central
Processing Office of ICICI Bank or by the Registrar. On a rejection, you
will be informed about the reason for rejection of the request. You can
submit a fresh request after resolving the reason for the rejection.
Freezing /Defreezing
The client has an option to freeze his account in case he does not intend
to do any transaction in the near future. These helps in curbing
unauthorised use of demat account & prevention of frauds. Once freezed
the account can be defreezed only on the instruction of the account
holders.
Following types of Freezing is possible:
Freezed for Debit: In this case any debit instruction cannot be passed
unless the account is defreezed. However, the credit in the account will
be received provided a standing instruction for credit is given for the
account.
Freezed for All: In this case no transfer to & from the account can be
done.
ISIN Freezing: In this case a specified ISIN can be freezed, blocking

the ISIN for debit.
Page | 39
Quantity Freezing: In this case a specified quantity of a specified
ISIN can be freezed, blocking the quantity for debit.
Defreezing of the account is required to enable the account again for
transaction. The request for freezing & defreezing must be submitted in
the prescribed form.
CHAPTER 6.
CORPORATE BENEFIT
In case the company in which a beneficial owner holds shares in demat

form announces any corporate benefits like bonus, dividend etc. the
beneficial owner will receive the same directly in his demat account or
bank account depending on the nature of the benefit.
Dividend:
The company/registrar takes a list of beneficial owners from NSDL as on
the record date/book closure date. Based on this list, company makes
payment of dividend. If the company is making the payment through
ECS, the company will directly credit the dividend to the bank account
registered by the beneficial owner with the DP under intimation to the
beneficial owner. If the company is making the payment through a
Page | 40
cheque/DD, the bank details will be printed on the dividend warrant. The
mode of payment of dividend etc. is decided by the company itself.
Bonus:
The bonus securities on the eligible securities in the beneficial owner’s
demat account are automatically credited to the beneficial owner’s demat
account by the company/registrar under intimation to the beneficial
owner. This will be reflected in the transaction statement for the period.
In respect of the physical holdings, the customer will receive bonus
securities in physical form.
Rights issue:
The beneficial owner will receive an option to subscribe for the eligible
number of securities from the company/registrar. These securities may be
in physical form or in electronic form in the customer’s demat account.
The customer can exercise the same in the normal course. While
exercising the option (in respect shares both in physical or electronic
form), the customer may mention the demat account in which the
securities allotted are to be credited provided the company is available for
demat with NSDL. Alternatively, the customer can also ask for the
securities in physical form.
Merger or acquisition:
Securities in the beneficial owner’s demat account is automatically
credited and debited by the company/registrar as per pre-declared ration
under intimation to the beneficial owner. This will be reflected in the
transaction statement for the period.
1. Public Issue:
When subscribing for shares in a public issue, you can request for
securities, if allotted, to be credited directly to your demat account and
quote your demat account for the purpose in the application form.
Page | 41
After allotment, the securities will be credited directly to your demat
account under an intimation to you from the company/registrar. Such
credit is done before the date of listing of the securities on a date
considered convenient by the company/registrar. However, if the details
of the demat account specified in the form are incorrect, the securities
will be allotted in physical form and certificates will be sent to you.
SEBI has announced that the shares of all companies going in for Public
offer will have to be compulsorily settled in demat form by all investors.
It is therefore advantageous for an investor to prefer the allotment in
demat form, so that the shares have higher liquidity.
2. Nomination:
You can make a nomination of your account in favour of any person by

filing up the nomination details in the account opening form. This is to
enable the nominee to receive the securities after the death of all the
holder(s) of the demat account.
Nominees can be appointed by individuals only. Non-individuals

including society, trust, body corporate, partnership firm, karta of Hindu
Undivided Family, holder of power of attorney cannot nominate. Where a
minor is appointed as a nominee, the name and address of the guardian is
also required to be obtained.
Where a nomination has not earlier been made or where an earlier
nomination is ought to be changed, you can submit a duly filled-in
nomination form at the nearest Branch. The account holder, nominee and
two witnesses must sign this form and the name, address and photograph
of the nominee must be submitted.
In case of the death of the sole holder or all the joint holders, the nominee
must submit a duly filled-in transmission form and give the notarised
copy of death certificate and an affidavit in the prescribed format. After
verifying these documents, the securities will be transferred to the
account of the nominee.
Page | 42
3. Transmission:
Transmission of securities refers to the transfer of securities from an

account to another as a result of the death of the sole/any of the holders of
the former account. For this the latter need not approach each issuing
company or its R & T Agent. Only the DP of the former account needs to
be approached. Here the transfer may be done to:
Surviving holder(s)
If the former account is a joint holding account and there is at least one
survivor, the survivor(s) can request the DP for the securities to be
transferred to his/their demat account.
Nominee where a nomination has been made

If there is no survivor amongst the account holders and a nomination had
been made by the holder(s) earlier, the nominee can request the DP for
the securities to be transferred to his demat account.
In addition to the documents specified under Common Requirements

below, an Affidavit duly completed by the nominee in the format
specified by NSDL and attested by a notary/magistrate should be
submitted by the claimant.
Legal heir where a nomination has not been made

If there is no survivor amongst the account holders and a no nomination
had been done by the holder(s) earlier, the legal heirs can request the DP
for the securities to be transferred to his demat account. In addition to the
documents specified under Common Requirements below, a true copy of
the Succession certificate or Probate or Letter of administration, should
be submitted by the claimant.
Page | 43
If any of the above legal documents is not available and if the market
value of the securities held by the deceased in the demat account does not
exceed Rs.100000/- then the legal heir(s) can submit the following to
make a claim:
 Letter of indemnity supported by a guarantee of an independent
surety on a non-judicial stamp paper of Rs.200/- as per the NSDL
format. The indemnity should be attested by a Notary/Magistrate.
 Letter of surety duly completed by the surety as per NSDL format.
 An affidavit-cum-verification on a non-judicial stamp paper of
Rs.100/- as per the NSDL format. It should be attested by a
Notary/Magistrate.
 No objection letter(s) from all other legal heir(s), as per NSDL
format.
Common Requirements and Effect

No transaction charges will be levied for transfer of shares from the old
account to the account of the claimant.
If the demat account of the claimant does not exist, a new demat account
will need to be opened. If the claimant is having a demat account but with
another DP, a proof of the same is required from the other DP. (Client
master from the DPM).
The claimant only needs to approach the DP. He need not lodge a claim
for transmission separately with each issuing company or its R&T Agent.
The following documents should be submitted with the request:
i) A copy of the death certificate duly attested by a notary or
verified with the original by an authorised person of the ICICI
Bank branch.
ii) An Off-market TIFD for the entire securities/ holdings for
transmitting the shares.
4. Demat Account Statement
Page | 44
If there is a transaction in the previous 30 days. The customer is sent a
transaction statement.
If there is no transaction in the previous 30 days but more 90 days have
passed since ending date of the last statement sent to the customer, a
quarterly statement is sent if there are some holdings in the customer’s
account.
Customers who have opted for transaction statement “through e-mail”

will get their statements by 1st week of next month. This is subject to at
least one transaction during the previous month, otherwise statement of
holdings via email will be sent on a quarterly basis. At the end of
financial year, they will get a physical transaction-cum-holding statement
for the entire year by 25th of April. In addition, you will receive a
physical copy of the annual statement to assist you in filing income tax
returns.
The e-mail statement will be authenticated by a digital signature obtained

from a Certifying Authority under the Information Technology Act,
2000. This will allow you to verify that the statement is sent by ICICI
Bank only and that the contents of the same have not been altered during
transmission. Please note that the statements are sent via standard email
and are therefore only as secure as standard email transmission through
the Internet. Since the email transmission is not encrypted, it is not
necessarily protected from unauthorized access.
It may be noted that on being registered for receiving statements by e-

mail, the annual service charge will be lower by Rs. 50/- per annum
starting from when it is next due.
Customers, who have opted for the “physical” transaction statement, will
get the transaction statement, subject to a transaction during the previous
month, otherwise, statement of holdings will be sent on a quarterly basis,
as per the following schedule:
 Within Mumbai limits, by the 15 of next month
Page | 45
 Out of Mumbai region, by the 20 of next month
You can receive your account statement by e-mail and can also see the
updated statement on www.icicibank.com. For both these facilities, you
have to first register. In case of any discrepancies in your account
statement, notify us immediately.
5. Registration for Internet/Phone Access & e-instructions.

To increase convenience to the customers while reducing work load at
your end in handling queries, there is a facility for the customer to
directly access his demat account 24 hours a day, 365 days a year through
the internet and through phone.
A customer who holds an ICICI Bank demat account only and does not
hold a banking account can still register for the above access. It is not
mandatory to hold a banking account to be able to register for such
access.
Internet Facilities available on www.icicibank.com
 View transaction statement

 View holdings
 View status of requests submitted - TIFD/IDT, Demat, Pledge, Remat
 View account details
 Get the ISIN for a Security
 Get Settlement Details
 Request for a TIFD booklet
 View Customer Ledger - his receivable account
 View Bill Details
 Pay his Demat bill online
 e- Instructions- facility to transfer securities
Phone - Interactive Voice Response (IVR)
Page | 46
 Details of last few transactions
 Details of holdings
 Request for a TIFD booklet
 Get ISIN for a security
 Get status of requests submitted - TIFD/IDT, Demat, Pledge, Remat
 e- Instructions- facility to transfer securities
Further, the Call centre is also equipped to handle specific queries on the
demat accounts. For accessing the above facilities, the customer needs to
register for the same.
For accessing the above facilities, the application for registration should
be done in the prescribed form. The form can be submitted at any ICICI
Bank branch offering demat services.
ICICI Demat Services allows customer to access his demat account

through the following channels also
 www.icicibank.com
 IVR (Interactive Voice Response) at Call Center.
Both these channels require authentication before providing the access on

www.icicibank.com is allowed after the customer provides the User ID
and the password on the site access on the IVR is allowed after the
customer provides the Telephone Personal Identification Number (TPIN).
TPIN is sent to the customer by post on submitting a Channel
Registration request at any branch offering demat services.
On submission of the request, the customer is sent the following 3
envelopes:
 TPIN (To be used for Phone Banking)

 Infinity User ID (To be used for Internet Banking)
Page | 47
 Password (To be used for Internet Banking)
In some cases, client may already have an User ID for his existing
relationship with ICICI Bank (could be a Bank account or a credit card...)
and he may request for his Demat account to be linked to the same User
ID (which he is the first holder). In such cases, after the linking, he will
not be sent any communication. He will start seeing his demat account
also through the same User ID.
6. Mobile Banking
With Mobile Banking you have an option to remain updated while you
are on the move, without even having to make a phone call or a visit or
logging on the Internet.
ICICI Bank Mobile Banking for Demat Accounts can be divided into two
broad categories:
 Request Facility
 Alert Facility
The registration is common for both facilities. Please fill Mobile Alerts
Registration Form and submit to any ICICI Bank branch offering demat
services. The facility is completely FREE. You are not charged a single
rupee by ICICI Bank for alerts received by you.
Request Facility:
We are pleased to announce yet another value adding feature called -
“Pull Alerts”. Using Pull Alerts, registered users can access information
about their demat accounts using a mobile phone.
As our customer you may have already experienced the convenience of
our FREE “Mobile Alerts” facility where-by activities in your demat
account are relayed to your mobile phone via SMS.
By registering your mobile number, you can get the following
information at your convenience. Customers who have already registered
their mobile number for Mobile Alerts can immediately start using this
facility. Please note, this is a FREE service: Some features of this service
are:
Page | 48
 Holdings Enquiry
 Transaction Status
 Bill Details
 Request for ISIN
Alert Facility:
Through this facility, you will receive a mobile alert in the form of SMS
whenever there is a significant event in your demat account. You will
receive mobile alerts when shares have got credited in your account or if
there is an issue with your transfer instruction. For instance, you get
Alerts for: -
 When your TIFD / IDT gets successfully processed or fails.

 For TIFD / IDT rejection reasons.
 For Pledge creation and Closure request.
 For Shares given for dematting has credited or rejected in your demat
account.
 For Remat request given and processed successfully.
 Credits of shares from any other party to your account.
 For any corporate action taken in your account.
7. Consolidation Demat Account

Consolidate your physical certificates in various name combinations in
one GO and without any HASSLES!
Consolidation Demat Account does it for you. You can now:
Demat all your physical shares in various holding patterns.

 Father + Mother + Son
 Mother + Daughter
Page | 49
 Son + Grandmother
 Or any other combinations
E.g. If you hold ICICI Bank shares in physical form in different

combinations of names, you can consolidate all of them into one single
demat account.
How does it work?

To dematerialise your physical shares in various holding patterns, you
need to open Consolidation Demat account for each pattern. These
accounts will remain open temporarily, for three months. Once all your
shares are dematerialised, we will transfer them to an existing ICICI
Bank Demat account specified by you. Note: This facility is not available
for NRIs.
8. Billing & Payments
The bills are generated in the beginning of each month for the previous
month. The due date is mentioned in the bill. However, it is not viable for
us to send bills with amount less than a certain cut-off amount.
Therefore, we are generating bills for only that customer whose bill
amount is greater than or equal to the cut-off amount. At present, the cut-
off amount is Rs 50.00.
It is important to note that, if a customer has made transactions which
amount to less than the cut-off amount, the bills will not displayed on the
Intranet ledger, therefore, please do not assume ‘no bill details’ equals
‘no transactions’.
Such customers will receive a bill in the next quarter or whenever the bill
amount exceeds the cutoff amount.
Details of Bills:
The bills contain the following details on the first page
 Opening Amount due from you:
Page | 50
This is the amount outstanding from the customer at the beginning of the
billing period.
 ICICI Bank Charges:
This is the sum of all charges levied by ICICI Bank Demat Services for
the billing period as per the schedule of charges.
 NSDL Charges:
This is the sum of charges levied by NSDL on ICICI Bank in respect of
the account for the billing period as per the rates applicable for the
period. This is payable in addition to the ICICI Bank charges as per the
schedule of charges.
 Service Tax:
Service Tax has been changed to 12.24% from 10.2% w.e.f 18.04.2006 as
per the finance bills received. This % may change depending on
government notification.
 Payments received from you:
This is the sum of amounts received from the customer during the billing
period. Payments received after the billing period will be reflected in the
next bill.
 Credits given to you:
This is the sum of credits given to the customer during the billing period.
Credits given to him after the billing period will be considered in the next
bill.
 Net payable by you:
This is arrived as: Opening Balance + Total Charges for the period -
Receipts Credit Notes.
 Please pay:
This is the amount payable by the customer.
 Charges
Charges are computed on daily basis as per the price file received from
NSDL
 Recoveries
 Credit Notes
Page | 51
Mode of recovery
Direct Debit:
If you hold an ICICI Bank account and have given a mandate for
recovery of charges from such account, the charges are recovered directly
from your bank account on or after the due date. Direct Debit recovery is
done twice, one on due date and second is on 1st week of next month.
ECS:
If you hold a bank account with a bank other than ICICI Bank and have
given a mandate for recovery of charges from such account, the charges
are recovered directly from your bank account on or after the due date.
Cheque:
If either of the above is not applicable, you should make the payment by
cheque/DD by the due date. When the amount remaining to your credit
goes below the specified threshold, you should replenish the same as per
the rate card.
ICICI Bank reserves the right to charge interest @24% p.a. on amounts
remaining outstanding after the due date. However, we are now charging
RS.100/- for cheque return cases.
Change of Mode of recovery from Direct Debit/ECS to

Cheque/DD mode: If you are on a mode of recovery wherein your
bill amount is recovered directly from your bank account and you wish to
discontinue the same, you are required to request for the same in writing
Page | 52
in the prescribed form. However, you are required to provide an advance
as per the rate card applicable to you. Your charges will be adjusted from
this advance. If you close the account and there is an amount lying to
your credit, the same is refundable to you.
Suspension
If the payment has not been received after 15 days of due date. The
intimation letter sent to client to clear his outstanding within 7 days from
the receipt of the letter otherwise the account would be suspended. If the
payment has been received within 7 days the account will not be
suspended. If the payment not received account will be suspended. On
receipt of the payment the account will be resumed.
9. Change of Address & Bank Details

You can request for the following through a prescribed form:
 Change of Address
 Change of Bank Details for receiving dividend
 Direct debit Mandate
Change of Address
The following requirements should be complied with:
The Client (or his authorised representative) should personally visit the
branch. In case of a corporate, at least one of the authorised signatories
should visit the office of the Participant in person. The Client (or a joint
holder or his authorised representative) should sign the request in
presence of the branch officer. In case of a corporate, at least one of the
authorised signatories should sign the request in presence of the branch
officer. The application should be signed by all the holders
Page | 53
The following documents should be submitted along with the
request:
Proof of Identity (To be taken for all joint holders):
1. Passport
2. Voter Id Card
3. Driving License
4. PAN Card (with photograph)
5. MAPIN card
6. Credit cards/Debit cards issued by Banks with applicant’s photo.
7. Employee Identity card with applicant’s Photo, issued by
 Central/State Government and its Departments,

 Statutory/Regulatory Authorities,
 Public Sector Undertakings,
 Scheduled Commercial Banks,
 Public Financial Institutions,
 Professional Bodies such as ICAI, ICWAI, ICSI and Bar Council.
8. Identity card/Document with applicant’s Photo, issued by
 Professional Bodies such as ICAI, ICWAI, ICSI and Bar Council
Proof of Address (To be taken for all joint holders)

1. Ration Card
2. Passport
3. Voter Id
4. Driving License
5. Bank Statement/Passbook
Verified copies of
 Electricity bills (not more than two months old),
 Residence Telephone bills (not more than two months old) and
 Leave and License agreement/ Agreement for sale.
6. Self-declaration by High Court & Supreme Court judges, giving the
new address in respect of their own accounts.
Page | 54
7. Flat allotment letter having address issued by
 Central/State Government and its Departments,
 Statutory/Regulatory Authorities,
 Public Sector Undertakings,
 Public Financial Institutions,
 Professional Bodies such as ICAI, ICWAI, ICSI and Bar Council
Change of Bank Details for receiving dividend

The Bank account details attached with each demat account are used by
Registrars/Companies to make dividend/interest payments. As per a
recent SEBI circular, it is mandatory for Registrars/Companies to make
dividend/interest payments by ECS wherever bank details of the investors
are available. Submit a cancelled cheque of the account.
Direct debit Mandate

You can also give a mandate for recovering demat charges directly from
your account. All bank account holders (even if they are not holders of
the demat account) should have signed the mandate portion of the request
form.
10.Change of Rate Card:
You can shift from

 Standard scheme to the frequent trader scheme
 Frequent trader scheme to the standard scheme
In case of shift from the frequent trader scheme to the standard scheme,
you may make the request any time but it would be effective from the
next financial year i.e. April 1.
ICICI Bank offers a bond scheme to enable bondholder(s) of various
companies to keep their bonds in dematerialized form. This scheme
attracts lower charges, as transactions in bonds are relatively low.
Page | 55
However, if there is any transaction in such accounts for equity shares,
the account will automatically get shifted to standard rate card and you
will be charged Rs, 251/-
11.Closure of Account:
If you need to close your demat account, you should make the request for
the same in the prescribed form. The account closure form is available at
the nearest Branch. Submit the duly filled up form at the nearest Branch.
Please ensure that:
There are no holdings in the account or you have requested for transfer of
all holdings in your account closure request
You have paid all your dues: Ask for a provisional statement of charges
from the branch. You should pay the amount due as per this statement
before your account can be closed.
Charges on transferring securities on closure of the account are the same
as for
normal transfers. Earlier the NSDL portion was waived but now NSDL
has withdrawn this waiver.
12.Account Security: Holding securities in demat account is quite
like having money in your bank account. You need to exercise all the
precautions in demat transactions as you do in your bank account.
 Please keep the TIFD/IDT/Pledge booklet safely and do not lend slips
to anyone.
 Do not share the details of your Demat account with anyone else
 Accept the TIFD/IDT/Pledge booklet from the DP only if it has a pre-
printed serial number as well as your Demat account number pre-
stamped on each slip.
 Do not sign on a TIFD/IDT/Pledge slip unless it is completely filled
up.
 Please check all your transaction statements carefully to see whether
all debits were authorised by you and whether all credits belong to
you.
Page | 56
 If possible use the web/email facility to check your transactions as
frequently as you can.
 When you are writing your instructions on the TIFD/IDT/Pledge slip,
strike out the empty space on the slip.
 Give ‘account freeze’ instructions to ICICI Bank if you do not intend
to operate your account for a long time. Even while your account is
frozen, the system allows automatic credit of securities to you. Give
‘account defreeze’ instructions whenever you want to resume
operations of your demat account
 Intimate your DP regarding any discrepancies in the account.
Revised Depository Service Charges

Charge Head Standard Charges Sub broker Charges
A/c Opening Nil Nil

Annual Service Charges Rs. 500/- (Rs 450/- : Rs. 1250/- (1200/- :e-mail)
email)
Agreement Stamp Paper Rs. 100/- Rs. 100/-
Buy - Market and Off-Market Nil Nil
Sell - Market and Off-Market (% of
transaction value) – Max. Rs. 500
for debt instruments :
For trade done on icici.com Nil Nil
For instruction submitted through 0.04% 0.02%
Internet (e-instructions) (Min. 10/-) (Min. 5/-)
For instruction submitted 0.04% (Min.15/-) 0.02%
through Call Centre (Min. 10/-)
For instruction submitted 0.04% 0.02%
through Branches (Min. 30/-) (Min. 15/-)
Rejection/fails Rs. 30 /- Rs. 15/-
Extra charges for processing of
instructions submitted on the
execution date late:
For instruction submitted through Nil Nil
Internet
For instruction submitted through Nil Nil
phone
Page | 57
For instruction submitted through Rs. 10/- Rs. 10/-
Branches per ISIN per ISIN
Dematerialisation :
For each request form Rs. 35/- Rs. 35/-
Extra for each certificate Rs. 2/- Rs. 2/-
Rematerialisation (For each request Rs. 20/- Rs. 20/-
form)
Closure of Account Nil Nil
Pledge Creation
/Closure/Confirmation
If ICICI Bank is the counter 0.02% (Min.15/-) 0.02% (Min.15/)
party
If ICICI Bank is not the counter 0.04% (Min.30/-) 0.04% (Min.30/)
party
Additional Account Statements Rs. 20/- Rs. 20/-
CHAPTER 7.
REDRESSAL OF DEMAT HOLDERS
Indian equity markets have been on an upturn and are considered to be

among the most attractive markets in the world. In the last few years,
Indian companies, big and small, have mobilised capital to fund their
growth plans. Given the limited base of equity investments in India and
the relative fall in yields in risk-free avenues of investments like bank
deposits, retail investors plunge into the market through the mutual funds
and IPO route to avail of high returns. Therefore, the primary market has
been buoyant with huge amounts being mobilised and the number of
issuers increasing manifold.
In April 2006 SEBI introduced strict know-your-client (KYC) norms to

bring a stop to the increasing IPO and secondary market scams and to
protect the genuine retail investor. However, the introduction of these
norms has resulted in the decreased growth of demat account on a year-
Page | 58
on-year basis, and an increased number of frozen accounts. In some
cases, the requirement of submitting a PAN card may be slowing down
the rural penetration of Indian equity markets.
To give some statistics, the total number of demat accounts has stagnated
at around six million for the past three years. There are 12 lakh frozen
accounts with both the depositories with assets worth Rs 20,000 crore.
National Securities Depository Ltd (NSDL) alone has 9.5 lakh frozen
accounts — brought down from the initial 30 lakh figure. Of the 9.5 lakh
frozen accounts with NSDL, nearly eight lakhs are frozen due to non-
PAN compliance.
It is safe to say that if more time was given to these account holders they
may be able to furnish the required documentation and claim the
dividends lying in them. It is only when they remain unclaimed for seven
years that the amount and securities are transferred to the Investor
Education and Protection Fund. Therefore, it might make sense to give
investors more time, say 2-3 years, to furnish the requisite documents and
comply to KYC norms.
Undoubtedly, the security of the retail investors’ money comes first.

However, we also need a balanced approach that will allow increased
penetration of the Indian equity market.
CHAPTER 8.
FREQUENTLY ASKED QUESTIONS
Account Opening & Operations:
1. Can I open more than one account with ICICI Bank Demat?
Yes, you can open more than one account with ICICI Bank Demat. There
is no restriction on the number of accounts you can open with the same
Depository Participant (DP).
Page | 59
2. Do I have to keep any minimum balance of securities in my
account?
No, there is no prescribed minimum balance. You can have a zero
balance in your account.
3. Can someone else operate my account on my behalf on the basis of

a power of attorney?
Yes, if you authorize any person to operate your account by executing a
power of attorney (POA) and submit it to us, that person can operate the
account on your behalf. If you have given POA earlier and now wish to
operate the account yourself, the POA has to be revoked by you in
writing.
4. How do I register a change in my signature with ICICI Bank

Demat?
You would have to make a request in writing. You would also have to get
your signature duly attested by your banker, with whom you hold the
bank account that has been specified for receipt of dividend.
Dematerialisation:
1. Can I dematerialise all my depository eligible securities through

the same account?
Yes. You can choose to have all your securities deposited in a single
account provided that the securities have the same holders.
2. Can I dematerialise shares, which are pledged with a bank, which

is a DP as well?
Yes, you can, with the permission of the bank with whom such shares are
pledged.
3. Can odd lot shares be dematerialised?
Yes, Odd lot share certificates can also be dematerialised.
Page | 60
4. How do I demat shares with Pre-Marital / Maiden names?
In such cases you need to submit a certified true copy of the marriage
certificate along with the Demat Request Form (DRF), when you give
your shares for dematting. Also provide an attested new specimen
signature.
Trading /Settlement:
1. Can I buy and sell shares through ICICI Bank Demat?

No, shares can be bought and sold only through a stockbroker. ICICI
Bank Demat helps in delivering the shares against a sell transaction or
receiving the shares for a buy transaction. You can open an account with
icicidirect.com to avail of seamless trading and settlement.
2. Can I deliver dematerialised securities against an obligation in

physical segment, in all stock exchanges?
Yes, SEBI has permitted dematerialised securities to be delivered against
obligations in the physical segment at the stock exchanges connected to
the depository.
3. Is the facility of delivering dematerialised securities in the physical

segments of the stock exchanges, available only for those securities
that are to be compulsorily sold in the demat segment of stock
exchanges by institutions?
No, dematerialised securities of all the companies that are eligible for
dematerialisation can be delivered against obligations in the physical
segment. This also applies to delivery against auction of securities in the
physical segment.
Page | 61
CHAPTER 9.
SURVEY REPORT
According to survey results done on the demat services from the 1st
August, 2017 to 31st August, 2017 consumers are more prefer to have
demat account for convenience in trading with shares.
In survey I have asked few questions to customers and their response was
as follows:
Demat Services:
This chart shows that there is approximately 60% aware about demat
services among the people and still approx. 40% people are unaware
about it.
There are 35% demat account holders among 60% people who are aware
with this concept
Page | 62
25% people prefer private banks to experience the demat services and
10% are with public banks for the same.
SURVEY FOR PROJECT ON DEMAT SERVICES (ICICI BANK)

Are you aware about Demat services provided by Banks?
Yes No
Do you have a demat account for your share trading?
Yes No
If yes, which bank___________________________________________
Are you planning to have a demat account in any bank for your share trading in
future?
Yes No
Which type of bank would you like to prefer for pursuing demat services?
Private Public Foreign
If private, then will you like to experience ICICI Bank demat services?
Yes No
What do you think the procedure for getting demat services is_
Convenient Lengthy
Will you like to get demat services with convenience, security and cost saving
from ICICI Bank?
Yes No
Page | 63
CHAPTER 10.
CONCLUSION
And as I conclude it is clear that DEMAT SERVICES are a boon for

mankind who trades in share market as it is a paperless, time saving, cost
saving and secure.
For many customers, demat services are becoming the only way to trade
conveniently with the share market Having the look at the increasing
number of demat account holders it is clear that in future there won’t be
any problem of trading in shares.
Due to all these features of demat services the customer is more likely to
prefer the E-shares than holding papers and this may also lead to
alienation of the customers.
In addition, demat services are also becoming a competitive mark for

many banks.
Therefore, it is imperative to ensure that the customers experience with

the demat account safe and secure.
Page | 64
11. REFERENCES/ BIBLIOGRAPHY
WEBSITES:
http://www.managementparadise.com/dhananjaysharma/documents/
14122/blackbook-project-on-demat-services-by-banks/
www.icicibank.com
https://www.icicibank.com/Personal-
Banking/demat/serviceCharges.page
https://www.icicibank.com/Personal-Banking/demat/demat.page
http://business.rediff.com/report/2010/may/03/perfin-benefits-of-a-
demat-account.htm
http://www.tmb.in/demat_account/our_demat_accounts_and_service
s.html
www.nsdl.co.in
www.sify.com
www.surfindia.com
Page | 65
OTHER SOURCES:
Membership Guide of ICICI Bank Demat Services.
Visit to ICICI Bank branch offering Demat Services.
Page | 66

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UNIVERSITY OF MUMBAI

“PROJECT REPORT ON”

SADHANA EDUCATION SOCIETY’S

“PROJECT REPORT ON”

UNDER THE GUIDANCE OF

SADHANA EDUCATION SOCIETY’S

I, HARSH M. RADIA, the student of B. Com Banking & Insurance Semester

The information submitted is true and original to the best of my knowledge.

The satisfaction and euphoria that accompanies the successful completion of

I am most thankful to my internal guide, Prof. Divya Kanchan for introducing

DEMAT SERVICES BY BANKS

1. Introduction Demat Services by Banks 1

2. NSDL AND CDSL 3

3. Benefits of Demat Services 7

4. Dematerialization Process and Procedure 10

5. Demat Services Provided by ICICI Bank 17

7. Redressal of Demat Holders 51

8. Frequently Asked Questions 52

Dematerialization or ‘DEMAT’ in short, is the process by which the

Dematerialization or “Demat” is a process whereby your securities like

Depository functions like a securities bank, where the dematerialized

Holds funds in accounts Holds securities in account

Transfers funds between accounts Transfers securities between accounts

Transfers without handling money Transfers without handling securities

Safekeeping of money Safekeeping of securities

Dematerialization or demat is a process to convert the

At present there are two depositories in India, National Securities

The other depository is Central Depository Services (CDS). It is still in

NSDL carries out its activities through various functionaries called

 Public Financial Institutions.

1. DP intimates Depository of the request through the system.

Trading in dematerialized shares results in substantial savings for the

Following tables gives an idea about these savings.

Item Physica Depository Savin

 Stamp duty of 0.5%

Savings for an investor who sells dematerialized shares

Item Physica Depository Savin

 A safe, convenient way to hold securities;

Why Should an Investor Open a Demat Account?

1. Wide DP Network: CDSL has over 275 DPs offering services

3. Availability of Wide Spectrum of Securities: The equity

4. Competitive Fees Structure: CDSL's fee is very reasonable and

5. Internet Access: Through CDSL's unique internet facility

1. On-line Information to Users: With the CDSL's centralised

3. Audit and inspection: CDSL conducts regular audit of its DPs to

4. Helpdesk: CDSL's prompt and courteous helpline facility is

5. Always meeting user's requirements: Continuous updating

1. Computer Systems: CDSL has installed state-of-the-art computer

Opening a Depository Account.

 Investors, both individuals and non-individuals, have a choice to open

A. Documents required to be submitted at the time of

 An application in the prescribed form duly completed.

 An application in the prescribed form duly completed.

B. Additional Requirements For Some Categories Of

BO Category Additional Requirement

HUF Name of the 'karta', if the account is opened in

Trust A certified copy of the trust deed along with the

Partnership firm The account has to be opened in the names of the

Proprietorship firm The account should be opened in the name of the

Clearing Members (CM) A certified copy of SEBI registration along with a

D. BO’s Should Carefully Note the Following:

 BO’s may consider issuing one-time instruction to their DPs for

F. Redressal Of Investor Grievances: